WEEX Exchange, a leading trading platform known for prioritizing user safety and convenience, has demonstrated its deep commitment to customer satisfaction by disbursing a cumulative compensation of $4.58 million in 2023. Upholding its responsibilities, WEEX Exchange has taken significant measures to consolidate user trust and ensure the security of user funds. This article examines the various compensation scenarios and highlights the industry-leading initiatives undertaken by WEEX Exchange.
What’s the Value of WEEX Exchange for Their Customers:
WEEX Exchange places customers at the forefront, valuing their experience above all else. This commitment goes beyond a mere slogan; it is a solemn obligation that WEEX Exchange(https://www.weex.com/en/download ) holds towards millions of users. With a steadfast focus on user-friendly features and robust fund security, WEEX Exchange not only establishes a 1,000 BTC user protection fund but also implements continuous security measures to safeguard user deposits and transactions. In times of losses resulting from platform issues, WEEX Exchange takes the responsibility head-on, without evading accountability or shifting blame, ensuring prompt compensation for affected users.
How About the WEEX’s Cumulative Compensation Details?
Reviewing the accomplishments of 2023, incomplete statistics reveal that WEEX Exchange compensated its users with a cumulative amount of $4,579,068.80 USDT. This compensation can be categorized into three segments: routine cases, announced anomalies, and slippage guaranteed. Routine cases account for 61.5% ($2,817,790.65 USDT) of the compensation, while announced anomalies represent 32.7% ($1,497,921.35 USDT), and slippage guaranteed compensation amounts to 5.8% ($263,356.80 USDT).
How About the Immediate Distribution of Genuine USDT?
To showcase its responsibility and commitment, WEEX Exchange ensures the swift distribution of the entire $4.58 million compensation fund. This demonstrates the platform’s dedication to addressing user concerns and fulfilling its obligations promptly.
What’s the User Compensation Scenarios?WEEX Exchange offers two avenues for user compensation: individual appeals and abnormal announcements.
1. Individual Appeals:
● In cases where users incur financial losses due to technical issues like platform lag or market delays, they can contact customer service and submit an appeal form.
● Users are required to provide supporting materials, such as screenshots and screen recordings, along with their appeal.
● Successful appeals automatically trigger the disbursement of compensation funds, while unsuccessful ones are communicated via email, clarifying the reasons behind the decision.
2. Abnormal Announcements:
● Whenever system lag, crashes, or market delays are detected, WEEX Exchange issues an abnormal alert notice, outlining the reasons, affected time period, and user appeal process.
● For users impacted during abnormal periods involving stop-loss, market orders, or liquidation orders, an automatic review process is initiated.
● Upon confirmation through the review process, compensation funds are automatically airdropped into users’ accounts within one day.
● Users who have objections can retain evidence, such as trading screenshots and recordings, during the abnormal period and fill out a manual claims form after contacting customer service.
What’s the Impartial Handling of WEEX’s User Appeals?
WEEX Exchange treats all user appeals with fairness, conducting initial and secondary reviews based on unified standards. Legitimate claims receive full compensation without any evasion or shifting of responsibility. However, users attempting to deceive the platform by editing images, falsifying evidence, or making false loss claims with dishonest intentions will face penalties in the form of appeal blacklisting after verification.
Breakdown of Compensation Coverage Rates:
In 2023, WEEX Exchange achieved a first-instance compensation coverage rate of 41.49%, a second-instance compensation coverage rate of 31.7%, and an impressive 84.29% coverage rate for slippage guaranteed compensation. This makes WEEX Exchange the industry leader in providing “Slippage Guaranteed Compensation.”
Slippage Guaranteed Compensation Campaign:
Launched in February 2023, the “Slippage Guaranteed Compensation” promotion by WEEX Exchange aims to attract users to engage in mainstream contract trading pairs. It encourages users to actively test the platform’s trading depth through real-world transactions, ensuring a smooth trading experience.
● Users can record their screen during market order position or pending orders, comparing the execution price with the current price.
● Subsidies can be claimed when the BTC price difference exceeds 2 U or the ETH price difference exceeds 0.2 U.
How About the WEEX’s Enhanced Trading Depth and Liquidity?
WEEX Exchange has consistently improved its trading depth and earned a remarkable position among the world’s top exchanges. Currently ranked sixth in global CoinMarketCap Average Liquidity, WEEX offers better order book depth and spread compared to most contract platforms, setting new industry benchmarks.
What’s the Reduced User Appeals and High-security Measures?
WEEX Exchange experienced intermittent external cyberattacks in 2023, resulting in a temporary halt of services. However, WEEX Exchange responded swiftly by enhancing its security infrastructure and implementing additional security measures.These measures include:
1. Enhanced Security Protocols:
● Strengthening of the platform’s network security to protect against DDoS attacks, phishing attempts, and other malicious activities.
● Implementation of multi-factor authentication (MFA) for user accounts to add an extra layer of protection.
2. Advanced Risk Control System:
● Development and deployment of a comprehensive risk control system to detect and prevent abnormal trading behaviors, market manipulation, and fraudulent activities.
● Continuous monitoring of user transactions and behavior patterns to identify potential threats and ensure fair market conditions.
3. Cold Wallet Storage:
● The majority of user funds are securely stored in offline, cold wallets that are isolated from the internet, significantly reducing the risk of hacking or unauthorized access.
● Regular auditing and strict internal controls are implemented to ensure the integrity and security of these cold wallets.
4. Partnership with Leading Cybersecurity Firms:
● Collaboration with renowned cybersecurity firms to conduct regular security audits, penetration testing, and vulnerability assessments.
● Proactive identification and mitigation of potential vulnerabilities to maintain a robust security posture.
5. User Education and Awareness:
● Regular communication and updates to users regarding security best practices and measures they can take to protect their accounts and funds.
● Providing resources, tutorials, and guides on password management, account security, and common phishing techniques to enhance user awareness.
About WEEX Exchange:
WEEX Exchange’s commitment to user trust, security, and satisfaction is demonstrated through its significant compensation fund of $4.58 million disbursed in 2023. By prioritizing user experience, implementing robust security measures, and promptly addressing customer concerns, WEEX Exchange has become a leading trading platform. With its reliable compensation process, enhanced security protocols, and continuous improvement initiatives, WEEX Exchange aims to provide a safe and trustworthy environment for users to trade with confidence.
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Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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Company Name: WEEX Exchange
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Country: Singapore
Website: https://www.weex.com