Popular crypto exchange Crypto.com has successfully completed SOC 2 Type II certification to boost its data privacy and security.
Since its inception, the crypto industry has been a target of various theft, rug pulls, and attacks. While most exploits lead to monetary loss, some have remained focused on stealing data. Earlier, Binance has also undergone a major attack, leading to the loss of over 10,000 personal photos from the firm’s KYC data. To keep these attacks far away, Singapore-based most prominent crypto exchange, Crypo.com, announced that it has gained the Service Organization Control (SOC) 2 Type II Compliance audit.
A Robust Security and Privacy for Crypto.com
Previously, Crypto.com added SO2 Compliance to its platform, conducted by a globally recognized consulting firm and audit Deloitte, which ensures that Crypto.com’s information security practices, operations, policies, and procedures meet the SOC 2 standards and adhere to AICPA Trust Services Criteria in security, confidentiality, availability, and privacy.
SOC 2 certification is a common standard in the crypto financial industry, and Crypto.com is excited to be the leader of the way for crypto platforms focused on bringing cryptocurrency to the mainstream. As Crypto.com completes SOC 2 certification, it will further strengthen its position in the crypto world and becomes the first cryptocurrency platform in the world to be certified for ISO 22301:2019, ISO/IEC 27701:2019, ISO/IEC 27001:2013 and PCI-DSS v3.2.1 Level 1 compliance, and independently evaluated at Tier 4, the highest level of security for both NIST Cybersecurity and Privacy Frameworks. This achievement of SOC 2 Type II Compliance is the newest example of Crypto.com’s dedication and focus on gaining and maintaining customers’ trust in security.
The SOC 2 Type II reports highlight how a firm protects its customer data while evaluating how those controls operate. Chief Information Security Officer of Crypto.com, Jason Lau, said, “Achieving SOC 2 Type II certification is yet another step-in reinforcing Crypto.com’s continuous commitment to security and data privacy by design. With the ever-evolving threat landscape, we will continue to ensure we maintain the highest level of security and data privacy so our customers can feel confident and trust our products. SOC 2 is an internationally respected security assessment criteria, and in line with highly regulated industries like the financial sector.”
Crypto.com is Leading the Crypto Space Amid Crypto Winter
Crypto.com is proud to complete the SOC 2 Type II certification. The firm worked on this for a year, and finally, they managed to bag the approval. Elaborating on this, CEO of Crypto.com, Kris Marszalek, said, “I am extremely proud of our commitment to compliance, and this latest achievement is a testament to our security, privacy, and regulatory compliance capabilities, which have been cornerstones of our business since day one.” He also added, “We will continue investing aggressively in building a most trusted platform for our users that maintains the highest standards of security and privacy in the industry.”
Crypto.com has been guiding the crypto community despite the onset of the bears. The exchange has been bullish on its expansion. Over the last couple of months, the platform acquired several global licenses. It is anticipated this step from Crypto.com will inspire more crypto platforms to work together on users’ security and bring more meaning to the crypto ecosystem.
