How to keep the security levels to maximum during the ICO campaign period.

[blockchain2k]

As some of you might already know we are going to launch a big ICO project and we are putting security as out top priority during the ICO campaign. We have received a lot of attention in the Pre-ICO thread here - https://bitcointalk.org/index.php?topic=4732575.420

I would like to ask for more experienced ICO projects to give us advice or two on how to keep things maximally secure during our ICO campaign. There is going to be big cash flow and we do not want to get compromised.

So far we have tested the smart-contract on our own and we are going to issue a bounty reward to more testing upon launching our project for public view.

[Bitcotalk]

I don't think that the security of a system is actually a big problem, one thing I have discovered is that most security threats were caused by the main developers of a project because they always hire a developer that would be able to do the work cheap for them and not hiring a professional who has lots of experience with high pricing and  this always cause problems in the future because the developers who worked on the project don't care about security.

[blockchain2k]

I don't think that the security of a system is actually a big problem, one thing I have discovered is that most security threats were caused by the main developers of a project because they always hire a developer that would be able to do the work cheap for them and not hiring a professional who has lots of experience with high pricing and  this always cause problems in the future because the developers who worked on the project don't care about security.

Thank you for your input! Do We are certainly following very high standards in regards to this. May I ask, do you offer any services?

[KingDome]

You might be seen pretty careful on taking ICO. Of course, KYC for your users would be necessary but somehow its unnecessary. Just proceed to not getting fund loss.

[sandra_x]

If your codes are clean,you need worry less about this,what you should pay more attention to are your investors, how you protect them from scammers who may want to take advantage of their ignorance. Some of the cheapest scams (yet very dangerous) are those that run a parallel ICO,mimicking your project (team,website,telegram etc).Seele project for example lost a couple of millions to this.Be on the look out,your media/marketing team must be very active. All the best in your project

[blockchain2k]

If your codes are clean,you need worry less about this,what you should pay more attention to are your investors, how you protect them from scammers who may want to take advantage of their ignorance. Some of the cheapest scams (yet very dangerous) are those that run a parallel ICO,mimicking your project (team,website,telegram etc).Seele project for example lost a couple of millions to this.Be on the look out,your media/marketing team must be very active. All the best in your project

Excellent points sandra_x! We are currently preparing to launch the ICO. You can see more info in my signature.

[Naficopa]

If you collect funds in fiat money, banks should take care of the security and insurance of the money raised. However, all resources collected in cryptocurrencies should be kept in cold wallet (Ledger Nano for example). Just remember to give access to priv keys at least two persons to not repeat problem of QuadrigaCX..

[tippytoes]

If you collect funds in fiat money, banks should take care of the security and insurance of the money raised. However, all resources collected in cryptocurrencies should be kept in cold wallet (Ledger Nano for example). Just remember to give access to priv keys at least two persons to not repeat problem of QuadrigaCX..

The development team should always have contingency plans. Many layers of security will be worthless if inside job is in play. So make sure that your team members are trustworthy enough to handle such big amount of funds. Selfish desire to get in touch with money is the usual culprit why many projects failed.

[bittick]

If you collect funds in fiat money, banks should take care of the security and insurance of the money raised. However, all resources collected in cryptocurrencies should be kept in cold wallet (Ledger Nano for example). Just remember to give access to priv keys at least two persons to not repeat problem of QuadrigaCX..

The development team should always have contingency plans. Many layers of security will be worthless if inside job is in play. So make sure that your team members are trustworthy enough to handle such big amount of funds. Selfish desire to get in touch with money is the usual culprit why many projects failed.

That's indeed, we always try to search the competence worker that will not betray our platform.Eventually, someone was greedy will always do anything to get the money but there is a possibility of that insider has a correlation with the team

[julius caesar]

Well as I see, big projects are implementing security task not just for hackers but also to secure the market price of their pairs. In that case, what they are doing is to limit the sell price. Investors is not allowed to sell below the ICO price. Some people gets annoyed about this because they think of their market freedom, but it is a good way to avoid the market price to be dumped.

[bitgolden]

Well as I see, big projects are implementing security task not just for hackers but also to secure the market price of their pairs. In that case, what they are doing is to limit the sell price. Investors is not allowed to sell below the ICO price. Some people gets annoyed about this because they think of their market freedom, but it is a good way to avoid the market price to be dumped.

I don’t think limiting sell price will be the solution, if they limit sell prices, yes, they will sustain the price for a while but at any little increase on the price of the ico, many of the investors will dump their coin immediately, at least it still profit them.
I think what they would have done is to limit the amount of coin an investor can have access to or purchase and also limit the total withdrawal that can be done within a time frame on a single transaction, after all, if not because project developers and investors too got it wrong, the coin was meant to be a utility coin and not investment coin.