The cryptocurrency market and the slew of updates from organizations in the field has ensured that users are engaged and an atmosphere of development is created. Cryptocurrency exchanges have also done their fair share of user engagement with the latest example being Bitmex.
On February 27, Bitmex announced that it will be updating its Terms of Service and Privacy on March 6. The company has stated that it is being done for the purpose of enhancing the scope and reliability of the service.
Bitmex further revealed that the changes will affect all users and will apply across all websites, applications, application programming interfaces and other media owned by Bitmex’s parent company, HDR Global Trading Limited. The circular released by Bitmex said:
“ A modification of access conditions for using the Trading platform, including the prohibition on access from certain restricted jurisdictions and the restrictions on your activities on the Trading platform. Another update will be a new provision covering HDR’s right to rely on your trading instructions.”
The report also shows that some of the new provisions will be covering the confidentiality of information available on the trading platform. The new updates have made some users speculate that Bitmex will have complete control of trade data which can be sold. Squarepush3r, a Reddit user commented:
“They have been doing this already forever lol”
To this comment, another user blu3ray said:
“Agreed, but I’m curious as to why they finally became transparent on the matter.”
Bitmex was also in the news recently when it was announced that Binance and Bitmex were one of the most secure exchanges available in the market. The research conducted by CER research claimed that the three most problematic factors for crypto exchanges were:
- The existence of Bug Bounty programs
- DNSSEC record
- HTTP Headers
The research calculated the CMC rank, server security, user security, crowdsourced security, and historical data. Bitmex landed the fourth position with a total cumulative score of 8.50.
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