to leave a comment.
Measures such as intensive monitoring, warning notices, and forced expiration depending on the risk level
The Digital Asset eXchange Alliance (DAXA) announced on the 28th that it has prepared a standard plan to prevent users of virtual asset exchanges from improperly lending their API keys.
An API key is authentication information for access rights that allows users to create it themselves or link it with external programs to use functions such as checking exchange prices and balances, placing orders, and depositing/withdrawing funds.
DAXA prepared the standard plan in consultation with the Financial Supervisory Service after recent cases where API keys were lent or shared with others and misused for unfair trading, such as market manipulation.
The standard plan includes measures to be progressively applied when suspicious acts of improper API key lending are confirmed, such as intensive monitoring, warning notices, re-verification of identity, and forced expiration of API keys, depending on the risk level.
Kim Jae-jin, Executive Vice Chairman of DAXA, said, "DAXA and its member companies will actively respond to various new risks and strongly implement necessary measures to protect users."
Newsletter
Get key news delivered to your email every morning
to leave a comment.