NEWSROOM

Leading crypto exchange OKX today announced that it has successfully achieved System and Organisation Controls (SOC) 1 Type 2 compliance, confirming that it meets the highest global standards for the protection of corporate customers' data and assets.

TURKEY - The SOC 1 Type 2 review was conducted under strict guidelines set by the American Institute of Certified Public Accountants (AICPA). The successful completion of this examination provides assurance to corporate clients that OKX's policies and procedures for the protection of their data are effective and in line with best practice.
Some of OKX's key policies and procedures for protecting customers' data and assets include

Advanced encryption technologies and rigorous access control procedures

Monthly Proof of Reserve (PoR) reports confirming that full reserves of user assets are held at a 1:1 ratio
Comprehensive incident response plan that enables OKX to respond quickly and effectively to potential security breaches

Regular training of employees on safety practices

Strict backup and recovery procedures that maintain data integrity in the event of system failure
The SOC 1 Type 2 review for OKX's Bahamas entity (OKX Bahamas FinTech Company Limited) was conducted by an independent auditor between 1 January 2024 and 31 March 2024.
OKX's Legal Director Mauricio Beugelmans made the following assessments on the subject: "Our successful completion of the internationally recognised SOC 1 Type 2 review highlights our commitment to providing our users with a trusted and reputable trading platform. We are proud to be compliant with global best practices for protecting our customers' data and assets. We will continue to work to improve both security and transparency and to ensure that our security measures continue to be scrutinised by independent, third-party auditors."

OKX also announced on 20 September 2023 that it had received SOC 2 Type 2 certification, demonstrating that OKX remains committed to the protection of data privacy as well as the management of its services and sensitive data.