In recent years, the blockchain industry has developed rapidly, but with the swift expansion of the industry, various issues have also emerged. Exchanges, as a crucial part of the blockchain ecosystem, hold a particularly important position, especially in meeting users' trading needs, over-the-counter (OTC) transactions, and other essential functions. However, problems at exchanges are frequent, and fraudulent activities are common. Issues such as Ponzi schemes, exit scams, hacking attacks, and fake trading data occur from time to time.
A large number of exchanges globally have already faced closures or security incidents due to various issues, resulting in significant user fund losses and market instability. Additionally, there are smaller platforms that imitate well-known exchanges, and even fraudulent exchanges created solely for scams. These platforms typically deceive users into investing and trading by mimicking the interfaces and branding of legitimate platforms. Not only do they lack basic security measures, but they often disappear quickly with the users' funds, causing significant financial losses. Due to their short operational lifespans and lack of transparency, many of these fraudulent activities are not disclosed in time, further exacerbating market chaos and user panic.
The chart below only accounts for well-known exchanges, with amounts exceeding several billion dollars and impacting tens of millions of users.
When issues occur at centralized exchanges, they often involve large financial losses and numerous users. Due to mismanagement, hacking, and other reasons, the compensation process is challenging and prolonged, leaving many users unable to recover their losses effectively. For example, in 2014, the Mt. GOX exchange lost approximately 850,000 bitcoins due to a hacking attack, worth around $450 million at the time, affecting about 240,000 users. Similarly, the FTX exchange collapsed in 2022 due to fund misappropriation issues, involving approximately 1 million users, with losses ranging from $8 billion to $10 billion.
Thus, choosing a safe and reliable exchange is crucial for users. They should carefully consider the security and reputation of the platform to avoid unnecessary risks to their assets.
WikiBit's Mission
WikiBit emerged in response to this backdrop, establishing itself as a professional, authoritative blockchain information query platform. Leveraging its extensive industry experience and expert knowledge, WikiBit provides transparent, secure, and reliable blockchain information services to users worldwide, helping investors make informed decisions in the complex market environment. Whether for newcomers to the blockchain space or seasoned investors, WikiBit is committed to offering comprehensive support, becoming a solid pillar for users in the digital asset arena.
WikiBit's expertise is reflected in its advanced technological framework and rigorous evaluation system. The platform utilizes innovative sniffing systems and big data analysis, taking into account over 70 dimensions, including influence, financial licensing, proof of reserves, on-chain data monitoring, and public sentiment monitoring, to comprehensively score exchanges across the globe. This meticulous analysis not only reveals the overall strength of exchanges but also provides users with an intuitive rating system, helping them quickly evaluate and make the best decisions, significantly reducing the time and research effort required when selecting an exchange.
To ensure users receive the most accurate and reliable information, WikiBit doesn't rely solely on technology but has also introduced a Field Survey feature. By dispatching professional teams to personally visit and verify the actual operations of exchanges, WikiBit can validate the authenticity and reliability of the information collected directly from the source. This initiative further enhances the authority and credibility of the platform’s data, giving users greater confidence in relying on WikiBit’s information for making investment decisions.
Additionally, WikiBit’s services extend beyond information queries. It also offers modules for complaints and rights protection, risk exposure, and credit evaluation, helping users avoid potential risks and pitfalls. WikiBit regularly publishes updates on blockchain industry trends and analysis, assisting investors in gaining market insights and seizing early opportunities. In May 2024, WikiBit officially became a member of the British Blockchain Association (BBA), further solidifying its position as a leading global blockchain information query platform.
Certification from APAC Insider
APAC Insider is a reputable media platform focusing on business strategies and trend analysis in the Asia-Pacific region, and it is part of the UK-based AI Global Media. Since its establishment in 1996, APAC Insider has gained widespread influence globally through its in-depth research across industries and strict evaluation standards. The awards it grants cover leading companies in various sectors, and the evaluation process combines votes from over 600,000 professionals with analysis from an internal research team, ensuring the awards' high authority and credibility.
Receiving an APAC Insider award signifies that a company's excellence in the industry and global influence have been fully recognized. WikiBit, with its unique product features, high industry expertise, and real assistance to global users, was awarded the Best Blockchain Query Platform of 2024 by APAC Insider. This honor not only reflects WikiBit's leading position in the blockchain industry but also marks a further expansion of its global influence. WikiBit will continue to provide reliable blockchain information services through transparent data analysis and on-site verification, promoting the healthy development of the entire industry.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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Website: https://www.wikibit.com
