Smooth Mitigation, Litedex Assures Consumers Of Crypto Security

UNSPLASH ILLUSTRATION

JAKARTA - Litedex Protocol has succeeded in securing its projects, after the incident when the Listing at LBank had only been running for 2 days. Litedex Protocol immediately performs a fast 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 1x24 hours, the 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.

Chief Executive Officer of Litedex Protocol, Andrew Suhalim said that he really appreciates all holders who remain loyal and optimistic about Litedex Protocol projects.

"In order to maintain the trust of the holders, we are ready to migrate the old LDX with the new LDX with a value of 1 to 1," he said, quoted by Antara, Saturday, April 2.

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.

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

"I have met many players in the domestic crypto industry. From a review of the system, I believe they have good enough protocols to mitigate risk," said the Vice Minister of Trade.

With the support of a sophisticated and reliable IT 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 so that crypto trading is 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," said Jerry Sambuaga.