Incident Mitigation when Listing is Successful, Litedex Protocol Ensures Crypto Asset Security on its Platform

The Litedex Protocol PLATFORM has succeeded in securing its projects, following a minor incident that occurred when the Listing at LBank had only been running for 2 days. Litedex Protocol immediately performs a quick recovery so as to minimize the wider impact.

Now Litedex Protocol has carried out internal mitigation and anticipation from all lines, starting from the security system to creating a new smart contract for LDX Token. In just 1×24 hours, a new Certik standard Smart Contract with layered security functions was successfully created by the Litedex Protocol IT team.

Litedex Protocol developers immediately made a massive migration to all LDX Hodlers, to reopen trading at LBank on April 4, 2022.

“I really appreciate all the owners who remain loyal and optimistic about Litedex Protocol projects. In order to maintain the trust of hodlers, we are ready to migrate the old LDX with the New LDX with a value of 1 to 1,” said Andrew Suhalim, CEO of Litedex Protocol in his statement.

This migration process is carried out in parallel by Litedex Protocol together with the LBank platform. At this stage, Litedex prioritizes security over speed, in order to minimize interference from irresponsible parties.

On another occasion, Deputy Minister of Trade Jerry Sambuaga reminded all crypto exchangers and creators, including domestic creators, to have a strong and reliable system. This is to anticipate and mitigate if there is a system disruption considering that crypto assets rely on technology system performance.

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He believes that token creators and Indonesian crypto exchanges are filled with IT professionals who are professionals in their fields.

“I’ve met many domestic crypto industry players. From a review of the system I’m sure they have good enough protocols to mitigate risk,” he said. said the Vice Minister of Trade.

With a sophisticated and reliable information technology (IT) support system, the Vice Minister of Trade is also confident that Indonesian coins and exchangers can go global and attract investment from abroad.

As for the community, the Vice Minister of Trade hopes that the community will continue to increase literacy and knowledge about crypto coins which are their investment instruments. According to him, it will be an independent mitigation step to make crypto trading more secure for investors.

“Do your own research so that it is safe to invest and support coins that do have a good base support system,” concluded Jerry Sambuaga. (RO/OL-7)

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