Skip to main content

How do you safeguard your transactions?

  • Updated

All transfers on BitMEX are protected by transaction rules enforced at a policy level to block potential attacks. BitMEX places significant focus on segregation of duties, ensuring that no single actor in the system can successfully sign a withdrawal on their own.

 

How does BitMEX protect transfers and withdrawals?

All transfers are additionally protected by transaction rules that are enforced to ensure any attack is blocked at a policy level. 

BitMEX places a tremendous amount of focus on segregation of duties within its internal systems. No single actor, whether a person or an automated process, can successfully sign and authorise a withdrawal on their own. The signing process requires co-operation between multiple independent parties, each holding a separate component of the authorisation chain. Even in the event that one component is compromised, whether through an external attack or an insider threat, unauthorised transfers cannot be completed without the participation of additional independent actors.

Segregation of duties extends beyond the signing process itself. The teams responsible for initiating, reviewing, and approving transactions operate independently from one another, with clear role boundaries and audit trails for every action. Combined with the MPC (multi-party computation) hot wallet architecture and cold wallet storage described in the How Does BitMEX Custody My Funds? article, these transaction safeguards form part of a layered security approach that protects user funds at every stage of the withdrawal lifecycle.

Related articles

This website is operated by HDR Global Trading Limited, a company incorporated under the International Business Companies Act of 1994 of the Republic of Seychelles with a company number of 148707 and registered address at Global Gateway 8, Rue de la Perle, Providence Mahé, Seychelles (“HDR”). HDR wholly owns BitMEX, a Bitcoin-based trading platform.


Access to trading or holding positions on BitMEX is prohibited for any person or entity that is located, incorporated or otherwise established in, or a citizen or a resident of: (i) the United States of America, Québec (Canada), the Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea or Sudan; (ii) any state, country or other jurisdiction that is embargoed by the United States of America; or (iii) any other jurisdiction where the services offered by BitMEX are restricted (collectively “Restricted Jurisdictions”). If it is determined that any BitMEX user has given false representations as to their location, incorporation, establishment, citizenship or residence, or HDR detects a user is from a Restricted Jurisdiction as described above, HDR reserves the right to immediately close their accounts and liquidate any open positions. HDR may, in its sole discretion, implement controls to restrict access to the BitMEX trading platform in any of the Restricted Jurisdictions.