Phemex has designed and implemented a Hierarchical Determininstic Cold Wallet System which assigns separate cold wallet deposit addresses to each user. All the deposits are periodically gathered in the company’s multisignature cold wallet via offline signature.
Phemex processes withdrawal requests hourly, and each request is rigorously scrutinized by both operators and founders. Based on our sophisticated Wall Street risk control experience, we are able to detect any malicious actions and quickly act to protect the assets of our users and platform. Qualified withdrawal requests are also processed via offline signature, thereby all assets remain100% stored in a cold wallet system with all operations conducted offline.
Phemex Crypto Derivatives Exchange: https://phemex.com
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