Bitget and BlockSec Establish Security Standard for Universal Exchanges

Bitget, in partnership with blockchain firm BlockSec, has unveiled a comprehensive report titled "UEX Security Standard," which aims to enhance security protocols for exchanges managing crypto assets, tokenized instruments, and traditional financial markets under a unified account.

This report is directed at developers of advanced trading infrastructures across various asset classes and sets forth five essential security benchmarks:

1. Verified solvency. Bitget's monthly Proof-of-Reserves reports indicate a coverage ratio of 163%, verified through Merkle trees, allowing users to independently confirm their balances.
2. Risk isolation between asset classes. A sophisticated risk management framework is designed to address the unique attributes of each market, implementing concentration limits and liquidity-based liquidation strategies to mitigate potential contagion effects.
3. Data and privacy protection. The approach to data control emphasizes sensitivity classification over data origin, ensuring that cross-border access is managed with input from security, legal, and compliance teams.
4. Dynamic monitoring. Artificial intelligence plays a critical role in identifying anomalies, with data being anonymized for external analysis.
5. Application and infrastructure resilience. The implementation of zero-trust principles, multi-cloud strategies, and routine disaster recovery exercises guarantees operational robustness.

By collaborating with BlockSec, Bitget aims to bolster security measures through real-time monitoring, proactive security assessments, incident preparedness, anti-money laundering checks, and tracking of fund movements.

"The evolution toward universal exchanges alters the landscape of security risks. We must now adopt a systemic approach to security, proactively identifying risks and embedding isolation within the architecture while testing solutions in real-world scenarios," stated Bitget CEO Gracy Chen.

In the past year, Bitget's security team has processed over 8,000 daily alerts regarding suspicious login attempts and unusual on-chain activities, successfully neutralizing more than 2,000 targeted attacks, including phishing schemes and impersonation efforts.

The complete report is available on Bitget's website, following their earlier white paper outlining the UEX model, which discussed the framework, future plans, and industry standards for the integration of cryptocurrency and traditional financial markets.