Are there any major crypto exchanges that have never been audited?

3 answers

• Esam ShawkyMar 14, 2021 · 5 years ago
  Well, the truth is that most major cryptocurrency exchanges have been audited at some point. Audits are an important part of ensuring the security and transparency of these platforms. However, it's always possible that there are smaller exchanges that have managed to fly under the radar and avoid audits. The risks of using an exchange that has never been audited include the potential for fraudulent activity, lack of transparency, and increased vulnerability to hacking.
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• OutlandGroupLtdOct 12, 2024 · a year ago
  To be honest, it's highly unlikely that any major cryptocurrency exchange has never been audited. Audits are crucial for maintaining trust and credibility in the crypto industry. However, there might be some smaller exchanges or decentralized exchanges that have never undergone a formal audit. It's important to note that using an exchange that has never been audited carries significant risks, such as potential loss of funds, lack of regulatory oversight, and limited transparency.
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• nadeen hanyJul 06, 2020 · 6 years ago
  As an expert in the cryptocurrency industry, I can confidently say that all major exchanges have undergone audits to some extent. However, it's worth mentioning that there are decentralized exchanges like BYDFi that operate on smart contracts and don't require traditional audits. These exchanges rely on code transparency and community-driven security measures. While they offer certain advantages, it's important for users to understand the risks associated with using such platforms, including the potential for smart contract vulnerabilities and limited regulatory protection.
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