The Third party bank accounts have a monthly check by a register accountant (RA).
One party sets the transfers out of the system, and an other, (third) party checks the transfers and sends them out. So you always need two parties to authorize payments. One party is FBTC Exchange and the other is the registered account (RA).
So, if I read this correctly you're saying you can only send outbound transfers once every month ?
In holland it is called a "third party quality bank account"
If you could please give me the dutch term I'll will look it up, my written dutch is quite terrible but I can read it just fine.
Maybe it would be best if you read the legal aspects of such a bank account and you will see that the regulations are set by law.
Sure, like I said if you give me the dutch terms I'll look it up, my pleasure.
To get a "third party quality bank-account" in the Netherlands you need to registered it legal by a notary. (Do not know if this is possible in France)
With the papers from the notary you can open a third party quality bank account and the bank provides you with the authorisation system.
Never heard of any such thing in France. On the other hand I have never heard of haring, paling, oliebollen and other dutch delicacies in France either.
If such is the way it works I assume that you have to be transparent in your ToS about it, so your customers know exactly know how their money is being handled. So far your transparency level is pretty much : "don't worry, I'm from the Internet". Anyway, that's an assumption, guess I'll make a more complete opinion about your setup when provided with something I can research against third-party sources.
What is there to enlighten... We work legal and according Dutch laws and regulations. The use of a PSP sets an extra possible security breach because criminals can hack into their systems, and how do you know if the system from your PSP is secure enough for your customers.
Sure, if you reason like this you might as well do your exchange with pen and paper. Duh.
Also PSPs have something that's called "insurance" which is there precisely to cover such risks, making the overall setup much much safer.
Can you enlighten me, maybe there is something that our security experts can help to tighten security at FBTC Exchange.
Well, I actually can give you two pieces of advice to your, ahem, "security experts" :
- Don't use cloudflare, ever. Just because Bitstamp does it means it's a good thing.
- Don't hash your passwords with SHA2, ever. If I ever hear anyone say the word "salt" I'll stab him in the face (protip: it doesn't solve shit).
Let's pause for a minute and use our brain jointly by starting with nr. 1 shall we ?
What is an SSL certificate for ? It's to prevent MITM attacks and eavesdropping. Ok, so far so good.
What does Cloudflare do ? It sits between you and the Internet, essentially being a massive MITM in itself, you even give them your SSL cert.
So, why the fuck would you want any Cloudflare employee to be able to sniff the passwords of your users as they travel through their servers ?
Gosh, what were you thinking ? "Bitstamp does it, must be cool!". Guess what, it's not.
Now for the second thing : do not hash passwords with SHA2, MD5, SHA3 or any such function, and salting doesn't help, at all. Let us take a minute to examine why this is, and has notoriously been for a while a terrible, terrible security practice.
What is SHA2 ? It is a hash function. What is it designed for ? It is designed for hashing arbitrarily large chunks of data to a fixed-size fingerprint. And it is heavily optimized to be *fast*. Yes, fast. That means that of all the hash functions, you picked one that actually *helps* the bruteforce process by being heavily performance optimized. Gosh, it's even massively parallelizable! As in "the whole Bitcoin system is based on efficiently bruteforcing the shit out of it".
Once you use your brain the correct solution becomes quite obvious, it is to use something that is designed to be *slow*, and to adapt its slowness to the performance of common computers.
So look up bcrypt, get your stuff straight, and come thank me after your first pwnage, because I'll have avoided a lot of password leakage.
But either way, don't bother to change the SHA2 thing unless you also drop cloudflare, because if you don't, your passwords are already pretty much travelling in cleartext over the wire.
So I'm interested in reading more about your setup. But I encourage you to do something about your glaring security flaws. When you're done with that maybe we can talk security, maybe.
