Binance Reaffirms Commitment to Robust Security With a Successful SOC 2 Audit
Main Takeaways
Binance has successfully completed a comprehensive SOC 2 Type II compliance audit, affirming its dedication to strict security standards within the crypto industry.
A trusted independent auditor validated Binance's security measures, affirming that its global platform has well-designed and appropriately implemented controls in systems protection and data security.
To maintain a safe environment for users’ digital assets and data, Binance continually enhances its security protocols and measures.
Binance’s global platform and technology services have recently undergone the System and Organization Controls (SOC) 2 Type II compliance audit, attesting to our organization’s commitment to leading the crypto industry when it comes to security standards.
Conducted by trusted third-party assessor A-LIGN, the globally recognized SOC 2® Type II audit was completed by Binance following a comprehensive multi-month assessment of our controls and practices in two areas: systems protection and data security. On top of validating that these controls are well-designed and appropriately implemented, the independent audit also attested to the day-to-day operational effectiveness of these controls.
As a custodian of users’ digital assets and data, Binance establishes and maintains strong security protocols on its platform and across its products. The SOC 2 audit shows that we are fulfilling our responsibility in this regard. We are also continuously enhancing our systems, such as through the incorporation of a comprehensive suite of state-of-the-art security measures. These measures include but are not limited to, stringent access management, advanced encryption, and a resilient incident response protocol.
Jimmy Su, Chief Security Officer at Binance, shared: “Although the crypto industry has grown and matured over the past years, there remains a gap in the understanding and perception. Collective efforts from industry players are required to affect change and Binance, as the market leader, recognizes that it needs to be at the forefront of such efforts. That is why we’ve dedicated significant resources and effort to demonstrating that crypto platforms can meet, and even shift, the strict standards that apply in traditional regulated industries. The SOC 2 Type II audit is the latest example, but it won’t be our last.”
Our dedication to continuously building trust, confidence, and reliability in the blockchain ecosystem can be seen through the industry-standard accreditations we have secured. In the past year alone, we have already received the ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in four jurisdictions: France, United Arab Emirates, Bahrain, and Turkey. We also completed the less stringent SOC 2 Type I audit, a precursor to the audit announced today, earlier in March. Subsequent annual surveillance audits will ensure our continued conformity with the standards and requirements that the accreditations set out.
The efforts of our Security Governance team have been critical in obtaining these accreditations, as well as in a wide range of other compliance and security domains where Binance continues to set high standards.