Trading on a mobile DEX is more risky? Komodo’s CTO says that not necessarily

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The use of a decentralized exchange, or DEX, on a mobile device does not necessarily imply a higher risk of being hacked, according to Kadan Stadelmann, CTO of the Bitcoin Future platform, Komodo.

„I don’t think the risk in a mobile DEX is necessarily higher than in a DEX accessed through other means,“ Stadelmann told Cointelegraph. „The risk will vary depending on the user’s device, OS (operating system), version, etc.,“ he added.

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DEX developed at Komodo

Built on Komodo’s network, AtomicDEX is a decentralized exchange, which works with multiple Blockchains, compared to other DEXs that only host chain-based tokens. Komodo DEX facilitates peer-to-peer, or P2P, transactions through blockchains, which are known as atomic swaps.

AtomicDEX is geared towards the mobile user base. As Stadelmann stated, the use of mobile-based DEX does not necessarily mean less security.

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Hacking is still possible on mobile equipment
However, security breaches still occur on mobile devices. Visiting certain websites could increase the likelihood that users will be hacked, Stadelmann said, citing gambling websites as an example.

„Basically, user behavior is a significant determinant when it comes to risk,“ he explained. „Then there’s the factor of whether the DEX technology used is really robust and secure,“ he added. „In this case, it would be less about the actual physical device and more about the software and the environmental circumstances of the users.“

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A great topic to discuss, hacking and data leaks have increased since the coronavirus took over during March. Some nefarious actors stole thousands of data from Zoom users. The FBI also noted that illegal online activity increased by 75% after the outbreak began worldwide.