The BitMEX cryptocurrency exchange has confirmed the receipt of an information security certificate from the International Organization for Standardization (ISO).

BitMEX stores user data securely

Representatives of the BitMEX cryptocurrency exchange announced the receipt of the prestigious information security certificate issued by the International Organization for Standardization (ISO). The document proves that monitoring and data storage systems comply with international standards and reliably protect customer information from leaks and theft.

“It is difficult to overestimate the importance of information security for a platform like BitMEX. Traders trust us because of our reputation for security. We have never lost a single Satoshi due to intrusions or break-ins. But security is never a static process, and in order to continue to set the bar as high as possible, we have strived and received one of the most important certifications - ISO / IEC 27001, ”said Alex Höptner, CEO of 100x, the parent company of BitMEX.

Obtaining ISO / IEC 27001 certification requires a thorough audit of IT systems, as well as an understanding of the organization's information security risks, including potential threats, vulnerabilities and their impact on the operation of systems. The certification process also requires the assessment of an individual, comprehensive set of information security controls and risk mitigation protocols, and the implementation of a complete management process.

“Data security is the cornerstone of our business, and ISO certification shows how seriously we take this commitment. Working with BSI, the organization that developed these stringent standards, the certification process took almost a year, ”said Brian Rankin, Chief Security Officer for 100x Group.

Nevertheless, as explained in the company, the exchange will continue to modify its security systems in order to protect users as much as possible from hacker attacks.

BitMEX Management Learned Lessons From Past Scandal

The past year has been challenging for the BitMEX cryptocurrency exchange. Recall that in the fall of 2020, the owners of the platform, including its co-founder and CEO Arthur Hayes, were accused of violating several regulatory requirements at once. In particular, in a statement published on the CFTC website, it is said that the company operated an unregistered trading platform and did not provide the necessary measures to combat money laundering. As a result of litigation, several top managers lost their positions at once.

This served as a good lesson for the new management, which almost immediately began to implement new information security standards, as well as KYC / AML procedures. Already in January of this year, representatives of the exchange announced that BitMEX will strengthen the tracking of blockchain activity with the Know Your Transaction (KYT) tool from the analytical service Chainalysis. Malcolm Wright, director of AML / KYC compliance at 100x Group (parent company of BitMEX), said the exchange recognizes the importance of its position in the cryptocurrency space, and therefore will strengthen "a comprehensive and flexible compliance function to identify intruders and illegal transactions."