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Ensuring Security Compliance With SOC 2

The Cryptoworth team is happy to announce that we have officially received our SOC 2 Type 1 certification this week.

In this short article, we will go over what SOC 2 is and how it relates to Cryptoworth.

What is SOC 2?

SOC 2 is an auditing standard established by the American Institute of Certified Public Accountants (AICPA) that assesses the security, availability, processing integrity, confidentiality, and privacy of a service organization’s systems and processes. The audit evaluates the effectiveness of the controls in place to ensure that they meet the Trust Services Criteria (TSC). SOC 2 reports are often used by service organizations to provide assurance to their customers and stakeholders that they are following industry best practices to protect data and maintain the integrity of their systems.

Why is SOC 2 important for Cryptoworth?

As a Web3 business solutions company with our core product Crypto One being a SaaS, building confidence through our investment in data security and confidentiality is a key company mission.

Here are a few points on how the SOC 2 audit impacts an organization.

  • SOC 2 compliance requires organizations to implement and maintain effective security controls to protect sensitive data and systems.
  • The SOC 2 audit evaluates the effectiveness of these security controls to ensure that they meet industry best practices and standards.
  • SOC 2 compliance can help identify potential security risks and vulnerabilities, which can be addressed to improve overall security posture.
  • Compliance with SOC 2 can provide assurance to customers and stakeholders that the organization is taking appropriate measures to protect their data and maintain the integrity of their systems.
  • SOC 2 compliance can help organizations stay up-to-date with evolving security threats and best practices, which can improve their overall security posture and reduce the risk of data breaches or other security incidents.

With our SOC 2 Type 1 audit complete, our organization has proceeded to work on our SOC 2 Type 2 audit for further dedication to our investment in security. We are expecting to have our SOC 2 Type 2 certification next by May 2023. For more information regarding our security, see our security webpage here: https://cryptoworth.io/security The status of our platform is constantly monitored and can be viewed here: https://status.cryptoworth.app/.

For any questions regarding our security or platform, please feel free to contact us at support@cryptoworth.app.

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