Bybit prioritizes investor protection, attains ISO 27001 certification
Bybit, the cryptocurrency exchange, is now ISO 27001 certified, per a recent press release.
ISO 27001 certified by Bybit
The International Organization for Standardization (ISO) 27001 certification is a combination of different procedures for every organization regardless of size. The framework focuses on systematically protecting user information in a cost-effective manner.
The ISO 27001 framework is built on three principles, first, confidentiality, which ensures that only authorized persons with the right can access necessary information. Besides, emphasizing integrity is ensuring that only people with the correct authorization can appropriately alter stored information. This framework also looks at availability, which means that the right information should be at the fingertips of the right person whenever the need arises.
With globally recognized ISO 27001 certification, Bybit is committed to information security, efficient risk management, and regulatory compliance. This exchange can be established as the forefront in user security, transparency and data security in the crypto industry.
Ben Zhou, Co-Founder and CEO of Bybit, said this certification demonstrates their commitment to security:
“This certification is testament to our dedication to providing our clients with the highest level of security possible. We are committed to protecting our clients’ funds with our industry leading cold wallet and independent custody solutions. Furthermore, our prudent management has seen our user base increase by 50% despite headwinds industry wide. This certification inspires us to continue providing next-level opportunities to our large base of institutional and retail clients.”
The security management system will be activated on May 18th. With ISO 27001’s focus on information security, this certification is expected to implement and maintain best practices to protect user assets.
It is difficult to pass the strict standards of information security management certification. To achieve this, Bybit had to be dedicated to compliance, risk management and operational efficiency.
This serves as a guide for both retail users and institutional investors, reinforcing their confidence in Bybit’s operations.
Accreditation enhances security
Bybit’s ISO 27001 certification increases the exchange’s ability to identify, assess and respond to potential security risks. Through comprehensive risk assessments and implementation of appropriate security measures, Bybit mitigates the risk of major breaches or security incidents.
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