"Hack Wallet" - good solution for exchange security?

1 post in this topic

The Eobot cryptocurrency exchange has an interesting policy for storing customer coins to protect against the possibility of their site being hacked:


What happens if Eobot gets hacked?
We have a 53 BTC "hack wallet" designated specifically for our users in the event we get successfully hacked and lose customer's coins. This is a "cold wallet" and not accessible from the codebase. This wallet is separate from our main site's cold wallet, holding 182 BTC. We will always make all attempts to repay customers in the event of our negligence, so this is an additional buffer above and beyond. For instance, let's say our DOGE wallet has a vulnerability and we lose all of our user's DOGE balances and funds. We would dip into the 53 BTC "hack wallet" set aside specifically for this purpose, which is meant to help ease any customer concerns.

Hacking and Site Security
We are one of the few Bitcoin related sites that has stood the test of time. We have been operational since May 2013, and have never suffered a critical attack. Below you may read more about our potential bounties for hackers to test our system, as well as how we will deal with any successful breach.

Hackers Bug Bounty
- Our site is secure, since the biggest incentive we can offer is cold hard cash/coins. Our current hot wallets combined hold a total of $138679 worth of coins, so if you can penetrate our system you would get that as your payout. If you succeed, please tell us how, so we can fix it! 

- We have a bug bounty program for smaller bugs, so contact us for details or visit us at HackerOne and submit bugs there! 

What do you think of this approach? Is it a good idea to have a separate wallet for use in the event of a hack? Or does this incentivize the wrong kind of behavior?


  • Like 1

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Similar Content

    • By filipesantiago
      I play in casinos a few years ago and today without a doubt I can say that this is being the best, it gives you possibilities of free win of various forms with raffles and games in the chats, it has an unlimited token faucet of the own site that you can cry out every 1 minute if you have the zero balance, where you can join and exchange for prizes in the store as VIP, Legends, or electronic and choose if you want the device or receive the value of it in bitcoin. Progressive level system from player increasing values of prizes Constant events with distruibuição of good values in criptocoins. Casino with the largest number of coins in your exchange, low value required for withdrawals. More than 2 years with this daring format that LuckyGames grows and is already among the biggest crypto-coins casinos today. If you do not know him yet, follow the link to register and good luck in your game!
      Go to Sign Up:

    • By filipesantiago
      Qoinpro is an old exchange that gives interest-based coins to those who keep them in the wallet of the site. The site has updated and come back again, now you can register and you already have a free amount in your starting account, and just leave it accumulating every day and when you have a good balance make the withdrawal, you can invite people and increase your daily interest rate. And to participate in the airdrops of the site go in Profile, enter your name of the Telegram and enter the official group.

      Go to:

    • By alexkane
      Eobot v2
    • By plomi
      The future market gives a big bonus for registration, do not miss the $ 300
      invitation to the project.

      Each of these actions can make you earn BZX:
      Claim your Airdrop +100 BZX
      Vote for your favorite coin +500 BZX
      Update limits by checking KYC +100 BZX

      During pre-launch and after launch, Buzzex will reserve 25 million Buzzex coins for various campaigns for generosity.
    • By Nii
      Protecting you address from being copied will help save you crypto currency 
  • Chatbox

    Load More
    You don't have permission to chat.