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Guardian Council’s Bold Plan to Stop Crypto Fraud


Cube.Exchange has launched the Guardian Council, a robust assembly featuring industry stalwarts such as the Solana Foundation, Everstake, Triton One, Juicy Stake, and Kiln.

This strategic coalition aims to establish a bulwark against unauthorized withdrawals, ensuring a fortified trading environment on the cryptocurrency exchnage.

Crypto Unites to Prevent Fraud

The Guardian Council embodies a pioneering multi-party validation system, mandating consensus among diverse entities for transaction approvals.

This approach decentralizes decision-making andinstills a multi-layered defense mechanism against potential misuse of customer funds. Therefore, it significantly reduces the risk of financial wrongdoing and crypto fraud.

Cube.Exchange’s initiative is a direct response to the industry’s urgent need for heightened security measures. Especially, after the FTX collapse, highlighting the vulnerabilities inherent in centralized exchanges. By integrating independent third-party validators into its operational framework, Cube.Exchange sets a new industry standard.

“The Guardian Council is just the beginning of this effort, and we will continue to bring to market more innovations that put security and user trust first,” Bartosz Lipiński, Cube.Exchange’s CEO, said.

Unlike traditional crypto exchanges, Cube.Exchange ensures that users retain control over their assets through MPC wallets, with transactions facilitated by an off-chain matching system and settled on the blockchain.

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Conclusion

In conclusion, Cube.Exchange has taken a significant step in enhancing security and preventing fraud in the cryptocurrency exchange space through the launch of the Guardian Council. This council, comprising industry leaders like the Solana Foundation and Everstake, aims to establish a robust defense mechanism against unauthorized withdrawals, ensuring a fortified trading environment. By decentralizing decision-making and incorporating multi-party validation systems, Cube.Exchange sets a new industry standard for security measures. This initiative not only addresses the urgent need for heightened security but also responds to the vulnerabilities highlighted by incidents like the FTX collapse. Cube.Exchange’s focus on user trust and security marks a positive development in the crypto exchange landscape.

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