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We've Achieved SOC 1 Type 2 Compliance for Institutional Client Data and Asset Protection

We're happy to announce that we have successfully achieved System and Organization Controls (SOC) 1 Type 2 compliance, confirming that we meet the highest global standards for protecting institutional clients' data and assets.

The SOC 1 Type 2 examination was conducted following strict guidelines set by the American Institute of Certified Public Accountants (AICPA). Our successful completion of this examination assures institutional clients that our policies and processes to protect their data are effective and align with best practices.

Our key policies and processes for safeguarding clients' data and assets include:

  • Advanced encryption technologies and rigorous access control procedures

  • Monthly reporting of Proof of Reserves, confirming that customer funds are backed 1:1

  • A comprehensive incident response plan, enabling us to respond quickly and effectively to any potential security breaches

  • Regular employee training on security practices

  • Stringent backup and recovery processes that ensure data integrity in case of a system failure

An independent auditor conducted OKX's SOC 1 Type 2 examination for our Bahamas entity (OKX Bahamas FinTech Company Limited) for the period from January 1, 2024, to March 31, 2024.

We also announced on September 20, 2023 that we achieved SOC 2 Type 2 certification. This demonstrates our ongoing commitment to governing our services, managing sensitive data and protecting data privacy.

Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.
© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.
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