Crypto Exchange Luno Launches Solana Staking in Malaysia: Interview
Luno, a crypto exchange licensed by the Securities Commission Malaysia, is launching its third crypto staking, this time, for Solana. Scarlett Chai, Luno’s country manager, noted that the exchange has already released the teaser of the launch.
The Solana staking would let its users earn SOL rewards every two days and passively grow their crypto investment portfolio. This marks the exchange’s third crypto stalking after Ethereum and Cardano.
Chai spoke with Cryptonews at the Off-Chain Global Conference in Kuala Lumpur, as a part of Malaysia Blockchain Week 2024.
Luno, on Monday, won the court verdict after the exchange was hit by allegations from a user Yew See Tak. He claimed that Luno failed to safeguard the cryptocurrencies in his account, resulting in nearly 600,000 ringgit ($129,799) loss. The High Court Judge reversed the decision stating that there was no security lapse on Luno, per a shared press release.
“In terms of our security practices, it was never compromised, that is very clear,” Scarlett Chai said.
“I think we never change our mission to upheld high and strong security practices. For us it’s not challenging, it’s just more of like ensuring that we continue to double-down in terms of doing what we need to do to protect our customers.”
The exchange has taken security very seriously, particularly, post the allegations from Yew. Luno holds ISO certification for security practices, Chai confirmed.
From a customer protection point of view, Luno encourages users to have their 2FA enabled from trusted devices. Further, it also has a cooling period for first-time users. “For Luno, if you enable send and receive for cryptocurrency, you have a 24-hour cooling period,” she noted.
“If you want to reset your passwords, we do
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