Original author: BitMEX
BitMEX is pleased to announce that we have launched a new address book whitelist feature to enhance the security and convenience of asset withdrawals on the platform.
Feature Overview
Add whitelist addresses at the network level to cover all assets under that network
Prevent unauthorized withdrawals to ensure fund safety
Detailed Introduction
What is the address book whitelist feature?
Through the address book feature, BitMEX users can store specific addresses and name them for easier use when initiating withdrawal requests.
Users can now convert the address book into a whitelist, allowing only addresses on the whitelist to make withdrawals. This means that addresses not listed on the whitelist will not be able to withdraw.
Using the address book feature, users can enjoy the following two major advantages:
Network-level address addition: Users can add whitelist addresses for specific networks. For example, adding a whitelist address for the Ethereum network allows for withdrawals of all assets under that network (such as ETH, BMEX, USDT, AAVE, APE, etc.).
Prevent unauthorized withdrawals: Users can set a cooling-off period to ensure that newly added addresses are unavailable for a period of time, further enhancing asset security.
How to enable the address book whitelist feature
1. Go to the 'Wallet' page and click 'Address' under 'Funds'.
2. Click 'Address Book Settings'.
3. Select 'Address Book as Whitelist'. a. Specify the cooling-off period for the new address (in hours). b. Enter your BitMEX two-step verification code.
4. Click 'Update Address Settings'.
* The cooling-off period will be explained in detail in the next section, as it relates to enhancing asset withdrawal security.
Once the address book settings are updated, you can add whitelist addresses for your chosen network or currency and set specific two-step verification conditions. We encourage users to take advantage of the new address book whitelist feature to enhance the convenience of fund withdrawals and strengthen the protection of BitMEX assets.
We will explain these two advantages in detail below:
Enhance convenience: Add network addresses for withdrawals
Through the address book feature, users can now create whitelist addresses at the network level. This means users no longer need to create new whitelist addresses for each asset under the same network.
If you add a whitelist address for the Ethereum network, you can use that address to withdraw all assets in that network (e.g., ETH, BMEX, USDT, AAVE, APE, etc.).
You only need to add one whitelist address for the Ethereum network to cover withdrawals for all tokens under that network.
How to add a network address
1. Go to your address book page.
2. Click 'Add Address'.
3. Select 'Network Address' from the dropdown menu.
a. Select the network for which you want to add a whitelist address (e.g., BTC, ETH, etc.) and enter the address.
b. Name the address for easier identification in the future.
4. Select your withdrawal security options - Do you want to require email confirmation and 2FA verification every time you withdraw to a newly created whitelist address?
5. Enter your two-step verification code and click 'Add Address'.
After adding a network address, you can find that address in the address book, displaying its associated network and name.
Enhance security: Prevent unauthorized withdrawal requests
Another advantage of the address book whitelist feature is that users can enhance the security of asset withdrawals through the cooling-off period.
As mentioned above, when enabling the address book whitelist feature, users must specify a cooling-off period of at least 24 hours during which newly added whitelist addresses will be unavailable. The length of the cooling-off period can be determined based on user preference but must be at least 24 hours.
Once a request to add a new whitelist address is submitted, the system will send an email to the user for confirmation. This gives genuine users enough time to confirm or block the request for the new address. If the account is hacked, the hacker will not be able to withdraw without prior notification to the user and at least 24 hours to block the request.
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Official link: https://blog.bitmex.com/address-book-whitelists/
