Question
Cryptocurrency exchanges such as Binance, Bitfinex, and Upbit allow users to buy and trade cryptocurrencies such as bitcoin, ether, and zcash. However, it is mandatory
Cryptocurrency exchanges such as Binance, Bitfinex, and Upbit allow users to buy and trade cryptocurrencies such as bitcoin, ether, and zcash. However, it is mandatory for the exchanges to perform Know-Your-Customer (KYC) and Anti-Money Laundering (AML) checks before allowing users to trade on the platform. Cryptocurrency exchanges store most of their cryptocurrencies in cold wallets and only keep a portion in hot wallets for liquidity purposes.
Recommend the relevant security objective that must be implemented for a cryptocurrency exchange. Briefly discuss how the security objective can be realised. Justify your answers.
- Data confidentiality
- User confidentiality
- Integrity
- Availability
- Accountability
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Principles of Information Systems
Authors: Ralph M. Stair, George W. Reynolds
9th edition
978-1337097536, 1337097535, 978-1337515634, 1337515639, 978-0324665284
