Research: 71% of crypto-exchange exchanges do not comply with auditing standards for user passwords

[Mazda3]

The developers of password manager Dashlane published a study in which they analyzed the audit of the reliability of user passwords by crypto-exchange exchanges. In the course of the study, they concluded that the vast majority (more than 70%) of platforms for trading in digital assets allowed the use of weak passwords, which makes user accounts extremely vulnerable to attackers.

Representatives of Dashlane conducted an experiment comparing trading platforms based on five critically important criteria for passwords and accounts.

So, all the necessary standards in compliance with the Dashlane view are observed only by a few trading platforms: Coinbase, Gemini, BitMEX, Cobinhood, Cryptopia and Paxful.

Among the outsiders of the list were Poloniex, EXMO, OKEx, Changelly, CoinExchange and Simex. These exchanges, as the researchers found, do not comply with even half the standards. In this case, CoinsBank demonstrated the worst result, having fulfilled only one of the five necessary conditions.

It is worth noting that 43% of the sites investigated allow users to create passwords of less than 8 characters. In turn, 34% of exchanges do not require alphanumeric passwords.