What is the reason behind Finblox imposing a monthly withdrawal limit amid the cryptocurrency market?

3 answers

• Dec 27, 2021 · 3 years ago
  As a measure to enhance security and prevent potential hacking incidents, Finblox has implemented a monthly withdrawal limit. By setting a limit on the amount of cryptocurrency that can be withdrawn in a month, Finblox aims to reduce the risk of large-scale losses in case of a security breach. This precautionary measure is in line with industry best practices and ensures the safety of users' funds.
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• Dec 27, 2021 · 3 years ago
  The monthly withdrawal limit imposed by Finblox is a response to the increasing number of cyber attacks targeting cryptocurrency exchanges. By limiting the amount of cryptocurrency that can be withdrawn in a month, Finblox aims to mitigate the impact of potential security breaches. This measure not only protects the exchange but also safeguards the interests of its users, ensuring the long-term sustainability of the platform.
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• Dec 27, 2021 · 3 years ago
  In the competitive landscape of the cryptocurrency market, it is crucial for exchanges like Finblox to prioritize security. The implementation of a monthly withdrawal limit is a proactive step taken by Finblox to enhance the security of its platform. By setting a limit on withdrawals, Finblox can closely monitor and review large transactions, reducing the risk of fraudulent activities and ensuring compliance with regulatory requirements. This measure ultimately strengthens the trust and confidence of users in the platform.
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