We take security very seriously and we follow the most strict processes to assure the higher level of security by using encrypted data, enabling 2FA and regarding the funds, they are always on the exchange side and protected by their insurances, like the SAFU fund from Binance that cover our Zignaly Exchange accounts that run under their Binance Broker program.
In this Article:
Is it Safe?
This is a very legitimate and appropriate question that everybody should be asking before sending any capital to any place. In Zignaly, we understand the importance of security, and we are gonna describe the layer of protection that we have implemented to make funds and experience as secure as possible.
The most crucial aspect here is that we aren't custodians of your capital. When you are depositing funds in the Zignaly Exchange (Powered by Binance), the deposit goes directly to Binance, and it is under Binance security.
How secure is Binance?
Binance meets the internationally recognized ISO/IEC 27001 standard. You can read more about this in this article.
Besides this, Binance has implemented pattern recognition to detect unusual activity, which is nurtured with an almost 20-month history of transactions, involving trillions of dollars in trades, which allows them to detect irregular trades and any suspicious activity. More info here.
But still, how secure is Zignaly?
API keys are RSA-encrypted before being stored in the database, and the database is in an isolated DMZ without public access.
We use a certificate for encrypting/decrypting the API-Keys, which is kept outside the database servers.
Zignaly API-keys aren't shared with anybody, not even with the user/owner of the account. This may change in the future, but still, they are always created without withdrawn permissions.
Still, if all that fails, there are only two servers in the entire Zignaly infrastructure authorized to perform withdrawals. Their IPs are the only ones authorized inside Binance. Such servers are isolated and can not be accessible from the outside.
Rate limits and ReCaptcha are in place to thwart brute-force and automated scripting attacks.
What can you do to add extra security?
The security of your account is teamwork, and you have to do the part too:
Enable 2-factor authentication, which will be required for accessing your account and each time to try to withdraw.
Be aware of scammers. They will try different ways to try to scam you. They will impersonate Zignaly agents, founders, investors. They are ingenious, so keep in mind that we'll never ask you to make a deposit, for giving you access to certain features, or for compensation for any problem that the platform may have suffered. We don't need your password or your 2FA code to give you support.
What happens if the founders disappear?
You still may have valid concerns about what could happen with your funds if Zignaly disappears. On the website, you will find the team, and there you will see the founders, with links to their social network profiles. Zignaly currently has more than $70,000,000 of capital under management. Zignaly is backed by two different VC groups. So, there will always be someone left to take care of the project or return the funds if needed.