Cryptocurrency Storage Safety Measure Overview

BtcBox co.,Ltd (“the Company”) is constantly working on delivering safe and sound cryptocurrency environment. Thus, various countermeasures have been implemented.  The following countermeasures have been implemented for our user who deposit assets in their accounts at the Company. 

1.Segregated Management

(1)The cryptocurrency deposits from customers and cryptocurrency that is self stored by the customers are managed separately.

(2)The cryptocurrency deposits conducted by the customers will in principle be stored in a wallet environment that is not connected to the internet (“Cold wallet”).

(3)Cryptocurrency assets that are stored by the customers themselves will in principle be stored in a wallet environment that is connected to the internet (“Hot wallet”). Nevertheless, in order to manage the liquidity, customers can store one part of their amount of cryptocurrency in a Hot wallet

(4)Whether he customer’s amount of cryptocurrency certainly is stored in a Cold Wallet can be confirmed by checking the remaining balance of amount every day.

2.About Wallets

(1)A Hot wallet is constantly connected to a internet connected environment, so we have implemented various safety countermeasures.

(2)In order to identify abnormal transaction occurrences promptly,  we confirm regular transaction conditions programs by a wallet monitoring program.

(3)A Cold wallet is used to decrease the risk of loss, fraud, and internal fraud. It is stored in a strictly and properly safe place.

(4)A Cold wallet is an environment with no internet connection that has no communication features.

(5)The transactions from a cold wallet to a hot wallet are limited. This process has to be approved by several managers.

3.About Cryptocurrency Withdrawal

(1)Cryptocurrency withdrawal will be confirmed after the legal confirmation procedure is completed.

(2)In order to judge the cryptocurrency withdrawal of fraud, we may request the customer of conducting a legal Hearing, or request additional documents to be submitted.

(3)During the confirmation procedure, if the transaction is determined of being suspicious based on the opinion of experts and the law and regulations, we may not respond to the requested withdrawal.

4.About Environment System

(1)Our Company server is duplicated. In events of  a system failure, the adopted system will automatically switch to our backup server.

(2)Our Company server is constantly under inspection for its operation condition. In case of any abnormalities occur,  an emergency notification will be sent to the administrator. 

Updated on 25th Sept 2019

BtcBox Co.,Ltd.
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