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Security of BYDFi

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BYDFi

2025-01-12 · Updated

BYDFi is committed to implementing rigorous, precise, and comprehensive security standards, employing top-tier measures and tools to safeguard against potential threats and unforeseen incidents.


From trading systems, network transmission, and customer accounts to fund custody, insurance, and auditing, BYDFi ensures multi-layered protection for its users. Additionally, regular stress testing and security audits are conducted to maintain compliance with the strictest global security standards.


Account Security

BYDFi offers two-factor authentication (2FA) supported by Google Authenticator, also known as two-step verification, to provide enhanced protection for user accounts.


What Is Two-Factor Authentication
Two-factor authentication requires users to verify their identity through two distinct methods, offering stronger security than traditional single-step authentication (password-only).

Why Is It Better than SMS Verification
2FA eliminates the risks associated with SMS verification, such as interception or attacks, ensuring higher stability and security.


Wallet Security

BYDFi employs cutting-edge technologies to ensure the safety of users' digital assets:


Offline Deep Cold Wallet Storage
User assets are stored in offline deep cold wallets, eliminating single-point failure risks and mitigating the threat of centralized attacks.

Multi-Signature Technology
Accessing funds requires multi-signature authorization, effectively preventing hacking attempts and ensuring access even in cases of key or device loss.

Protection in Extreme Scenarios
Even if the system is fully compromised, including web servers, trading engines, and databases, hackers cannot steal funds as no private keys are stored on cloud servers.


Trading Engine Security

BYDFi’s trading matching engine sets the highest standards in the industry:


High-performance Programming Language
The engine is built using kdb+, a tool widely used in high-frequency trading by financial institutions.

System optimization and Architecture
All subsystems undergo secondary optimization and leverage a distributed cluster architecture and microservices development to minimize latency.

Unparalleled Performance
The engine supports over 1 million transactions per second, offering the most efficient, stable, and reliable trading experience in the market.


System Security

BYDFi employs multi-layered security measures to ensure the highest level of system protection:


AWS Cloud Infrastructure
The platform uses Amazon Web Services for top-notch security, with excellent physical and internal control measures.

Multi-Factor and Hardware Authentication
System access requires multi-factor authentication and hardware verification, meeting FIPS PUB 140-2 level 3 or higher encryption module security standards.

Website Encryption and Protection
SSL encryption protects website traffic, and all passwords and sensitive data are hashed using SHA512 with 512-bit encryption. Additionally, Cloudflare technology mitigates potential DDoS attacks.

SecurityAaudits and Vulnerability Detection
The technical team conducts regular security testing and IT audits to promptly identify and fix potential vulnerabilities.


Through these multi-layered security mechanisms, BYDFi ensures a stable, secure, and trusted trading environment, providing users with peace of mind and the best protection for their digital assets.