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Bitmart hack - All the more reason for a new exchange

Bitmart hack - All the more reason for a new exchange

With the growing cases of hacks on exchanges, the need for a robust, secure, safe, and private cryptocurrency exchange is more evident than ever. Most of the time, centralized exchanges are targeted as they are custodial and store all user assets in a single place, giving the hackers a chance to make big loot from a single place. 

On the other hand, decentralized exchanges are non-custodial and the user remains in control of their assets at all times. This inherent disadvantage of centralized exchanges has become more prominent with the increase in hacks every day. 

Earlier this month, Bitmart, a crypto trading platform, was hacked, and the hackers managed to take $196 million in a "large-scale security breach." While the exchange publicly released that the hacker withdrew around $150 million, Peckshield, a security firm, estimated it to be closer to $200 million. 

Because the hack took place this week, it is clear even the modern security features implemented by centralized exchanges are not up to par with the current security concerns. Decentralized exchanges, such as Werewolf Exchange, have a better history against these hackers as DEXs do not store user assets in a single place.

Werewolf Exchange - An Automated Market Maker

Werewolf Exchange is a decentralized exchange with an automated market maker that utilizes single collateral crypto assets. Unlike a centralized exchange, Werewolf Exchange allows the users to retain control of their assets, which adds another security layer that is unarguably the hardest to crack for hackers. 

This attribute of DEXs does not only increase the security multifold, but also gives users complete control and freedom to move the assets at their convenience. The Werewolf Protocol adds another layer of security over the user assets using the Werewolf Wallet.

Werewolf Wallet

The Werewolf Wallet combines traditional finance and digital assets using a wallet where users can buy, cash out, and earn crypto. This wallet allows the werewolf users to store their digital assets safely and securely while they leverage the Werewolf Exchange for trading.

The wallet has several features, such as integration with the top ten blockchains, fund storage - 95 - 5 / cold - hot, multi-platform support, AI-price predictions, IBAN transfers, simple and easy to use, and direct purchase using credit cards (using third-party payment cards). Moreover, users can make mobile phone payments for utility bills.

Moreover, users can also pay out to third parties and make transfers to mobile numbers and third-party wallets using cryptocurrencies on Werewolf Wallet. 

Decentralized exchanges such as Werewolf Exchange are helping crypto users to safely engage with digital currencies without worrying about hacks. To learn more about the Werewolf Ecosystem, visit https://werewolf.exchange/index.html. 

Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice

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