As we are making progress and taking steps to make our systems better, many questions have come up about how the MUXE development team is securing their systems. There have been a couple of articles discussing how hackers are finding many ways to steal tokens and money from clients. There were cases where hackers would go as far as to use victims’ computers to mine cryptocurrency. They have even stolen millions of dollars just as a new cryptocurrency has undergone an Initial Coin Offering (ICO).
Here at MUXE, this not only raises a huge concern but it also helps us determine and prepare for what may occur ahead. We have had questions about what forms of security measures we are taking to protect our platform and our tokens. On our community Telegram chat, members were even making recommendations for how we might secure our site.
We do appreciate our community’s participation and we want to respond in an intelligent, yet risk averse way. All members should be aware that we cannot spell out a detailed security plan in a public forum. This would be the equivalent of giving a thief a roadmap to our home with a full inventory and the location of our wallsafe.
However, we can tell you that the scope of our security plan includes the following general components. First it addresses who may have access to the specifics of the plan and how that access is monitored. Next the plan details both securing of our physical assets as well as the cyber-security of our servers, our network and our platform. The plan also deals with access control and transaction security. The plan addresses a security audit of any in-house and third party software as well as an audit of the development process itself. Then, the plan adresses the use of extensive white and black box “live fire” testing to expose and close any vulnerabilities. Finally the plan addresses live real-time monitoring of assets to detect and react to any threat based interactions.
We feel that this general outline should help engender trust that the MUXE team is taking the security of both your and our assets seriously. We would love to hear more from you! Check out our forum at www.muxu.io, follow us on Telegram and like us on Facebook.