Share this article
Latin American Exchange Bitso Taps Coincover for Security Services
Bitso will use Coincover’s non-custodial disaster recovery service and its risk engine to monitor outgoing transactions in real time.
Updated Aug 15, 2024, 1:57 p.m. Published Aug 15, 2024, 1:54 p.m.
- Bitso will use Coincover’s non-custodial disaster recovery service.
- Latin America has the highest preference for centralized exchanges amongst crypto users in the world, becoming targets for hacks and scams, Coincover said.
Bitso has tapped blockchain protection company Coincover to provide security for digital assets, the Latin American crypto exchange said Thursday.
Through integration with Bitso's multiparty computation (MPC) infrastructure, Coincover will provide non-custodial disaster recovery, giving the exchange protection against events such as hacking or lost access. In addition, Bitso will use Coincover to monitor outgoing transactions in real-time.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to data from Immunefi, more than $900 million has been lost to hacks and fraud in crypto this year, with $572 million stolen in the second quarter. That's more than double the amount in the year-earlier period.
“Latin America has the highest preference for centralized exchanges amongst crypto users in the world. While this is a sign of the industry's growth in the region, it means these exchanges are increasingly becoming the targets for hacks and scams,” said Digby Try, senior vice president at Coincover, in a statement.
Bitso was founded in 2014 and operates in Mexico, Brazil, Argentina and Colombia. The company claimed to have 8 million customers, 1700 institutional clients and more than 500 employees.
Founded in 2018, Coincover said it has 500 clients, including Fireblocks, BitGo and Ledger.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
