Crypto Exchanges Planning Significant Changes After Market Mayhem in March

Several large cryptocurrency exchanges are working to improve their internal infrastructure after the volatile March 12th crash exposed a number of glaring weaknesses.

Huobi, a leading exchange based in Singapore, is adding a circuit breaker mechanism that will halt liquidation when prices become too volatile over a short period of time. Although it does not shut down trading entirely, the new addition is similar to existing systems on Wall Street and is designed to prevent excessive losses during periods of market panic.

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Global crypto giant Binance is working on a number of changes behind the scenes. CEO Changpeng Zhao tells Bloomberg that issue number one is ensuring the exchange can handle the heavy load it experienced last month.

“We are changing a lot of our internal systems, just to be very cautious and conservative and be safe about it. The number one thing we are focused on right now is just to increase system capacity.”

BitMEX, based in Seychelles, has been working to prevent further attacks on its infrastructure after experiencing two denial-of-service attacks at the height of last month’s big market sell-off.

The exchange says it ended up compensating 156 accounts that had stop-loss prices triggered erroneously.

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Featured Image: Shutterstock/Roman Zaiets

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