Safety & Security Huobi AMA Recap!

On November 3, Huobi Co-founder, Du Jun replied to a Netizen’s question during an AMA event, saying that the safety of users’ assets is more important than anything else.

“It is true that many exchanges in the cryptocurrency industry have had security problems. But there has never been any security breach in the past seven years, since the establishment of Huobi. This sufficiently shows the significant investment and effectiveness of control measures on our platform,” Du Jun said.

On the question of how centralized exchanges can restore users’ confidence in asset security, Du Jun believes that the most important and fundamental thing is to ensure the transparency of the platform’s fund balance.

“Our cold wallet address has been open to public for a long time. Anyone can check what the balance of our cold wallet assets are on the chain. The transparency is the bottom line of Huobi and the basis for users to trust the platform,” he added.

In addition, he revealed that there are as many as 15 people who manage the private key of the Huobi cold wallet, and problems with one, or several, people will not have any impact on the safety of the platform funds. Of course, in terms of asset security control, it is also necessary to constantly carry out technical upgrades and iterations to ensure that no hacker can find technical security loopholes.