How are my assets protected?
It’s natural to ask how your funds are protected when entrusting them to any cryptocurrency service — and at Bake, we take this responsibility very seriously. We have made significant investments and implemented robust measures to minimize risks and ensure the highest standards of security and transparency.
How does Bake handle custody and asset segregation?
Bake practices clear asset segregation, meaning your assets are kept separate from Bake’s own operating accounts.
We have strict safeguards in place to ensure user assets cannot be used for Bake’s expenses or liquidity. In the unlikely event Bake becomes insolvent, creditors would have no claim on your assets.
Bake also plans to become a licensed custodian of user assets once the regulatory framework allows.
What wallet solution does Bake use?
Bake uses BitGo Custody wallets for all user assets, as visible on Bake’s ‘Balances’ page.
BitGo is a trusted industry leader offering one of the most secure wallet platforms, featuring multi-signature (multisig) protection. Any movement of funds requires multisig approval from Bake’s management team.
How are assets in Staking and Freezer protected?
Assets staked or frozen by users are held in masternodes operated by Bake. Since Bake controls the private keys, it acts as custodian of these assets.
Masternodes operate 24/7 online but do not hold user collateral directly. Instead, collateral assets are kept in offline cold wallets, fully segregated from internet access.
Please don’t hesitate to contact us if you need any further assistance. We’re here to help!