GEORGE TOWN, Cayman Islands, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Toobit, the award-winning global cryptocurrency exchange, today announces the successful completion of two security penetration tests conducted by Hacken, a premier Web3 cybersecurity auditor. The audits, which focused on both the Toobit iOS and Android mobile applications, are the latest step in the company’s ongoing efforts to providing a secure and reliable platform for its global user base.
The collaborative penetration tests were gray box assessments aimed at identifying and mitigating potential vulnerabilities within the exchange's mobile applications. The audits revealed a total of 13 findings across both platforms, with a majority classified as minor issues. Following the audits, Toobit’s development team swiftly addressed these issues.
"The security of our users' funds and data is our highest priority, and these successful audits are a crucial step in fulfilling that promise," said Mike Williams, Chief Communication Officer at Toobit. "This positive result from a respected third-party firm like Hacken confirms to our users that they are trading on an exchange where security is not just a feature, but the foundation of our platform. We will continue to invest in the latest security measures to ensure their peace of mind."
This successful audit builds upon Toobit’s existing security framework, which includes a verifiable Proof of Reserves (PoR). Toobit provides 1:1 asset backing for all traders, an automatic protection set in place from the moment traders deposit funds. This is a core component of the exchange’s proprietary Bee-Safe technology, a multi-layered security system designed to provide comprehensive protection and transparency for all assets.
According to the Hacken 2025 Half-Year Web3 Security Report, over $3.1 billion in digital assets were lost to hacks and exploits in the first half of the year. This figure already surpasses the total amount stolen in all of 2024, highlighting the escalating need for diligence through robust security measures and independent audits.
The full reports, together with their findings, are publicly available on Hacken’s website.
About Toobit
Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.
For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram
Contact: Davin C.
Email: market@toobit.com
Website: www.toobit.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f61111b3-2bef-46c0-8122-8b507ef02ec6
