Need to discuss are vested people ready for cyber attack, what will happen coindcx situation create with vested?
Hi @Chetan_Horizon_247
We understand your concerns, especially regarding the recent CoinDCX security incident. We want to reassure you that Vested operates very differently from crypto exchanges and follows robust security and regulatory practices.
All investments made through Vested are held with DriveWealth, a US-based and SEC-regulated broker-dealer and custodian. Your account is also protected by SIPC insurance, which covers up to $500,000 (including $250,000 for cash) in case of broker failure. Importantly, Vested does not hold your money or securities, and they’re held securely in your name by DriveWealth.
Unlike crypto exchanges, assets on Vested are not stored in hot wallets. They are held in custodial brokerage accounts, significantly reducing the risk of hacks. Your investments would remain secure and recoverable even in an extreme scenario, like a system compromise. Also, DriveWealth keeps client securities and cash segregated from their own balance sheet, meaning even in the unlikely event of their insolvency, your assets remain safe.
Vested also uses robust security measures to protect your personal information. Vested employs 256-bit encryption and a Secure Sockets Layer (SSL), ensuring a high level of security on our platform. Additionally, the platform uses advanced login methods (with two-factor authentication), automatically logs users out after periods of inactivity, and carries out ID verification procedures. These measures are in place to safeguard your data and prevent unauthorized access to your account. Vested also carries out regular security audits and monitoring to ensure robustness of our platform. Vested is a regulated platform operating with licensed US brokers, custodians and trusted partners, and has dedicated processes to detect and respond to potential threats.
We hope this helps clarify how your investments are protected. Please feel free to reach out if you have more questions.
In one of the posts Viram mentioned that securities are held by Citibank as custodian. Has something changed?
Hello Vested Team,
Kindly share following documents –
- External Penetration Test Report of your platform including Infra and API.
- Please share your DR & BCP details
- SOC Monitoring and SLA details in case of breach and data theft.
Regards,
Pradeep Singh
Mob - 9960791185
Can I login to DriveWeath website using my Vested login to see my investments
any update here?
Hi Reetesh, can you please elaborate what do you need help with?
DriveWealth offers a client portal from where you can access and update your profile information, access your account statements, yearly tax forms, and trade confirmations. The holdings data, while available on these monthly statements, is not available separately to be accessed during the month.
You can access the DriveWealth Client Portal from https://client.drivewealth.com/.