Hans Economy reported that the Digital Asset eXchange Alliance (DAXA) has prepared a standard to prevent the misuse of API Keys by virtual asset exchange users, aiming to establish a sound market order and protect user assets. An API Key is access authentication information that allows users to create it themselves or link it with external programs to use exchange functions such as checking market prices and balances, placing orders, and depositing/withdrawing funds. However, it was explained that measures were taken as there has been a series of cases recently where API Keys were lent or shared with others and misused for unfair trading, such as market manipulation.
