Gemini crypto exchange has passed a security audit from Deloitte.

[Paha87]

The Gemini cryptocurrency exchange said it passed a security compliance check conducted by the audit firm of the "Big four" Deloitte.

Unveiling the news on Tuesday, the founders of Gemini, Cameron and Tyler Winklevoss, said that they have become the first cryptocurrency company to have passed the exam System Controls 2 (SOC2) of the first type. The American Institute of certified public auditors (AICPA) approves:

SOC 2 exams are specifically designed to test management tools in a service organization that are relevant to the systems in the service organization used to process user data.

According to Gemini, Deloitte independently reviewed and evaluated the design and implementation of its security controls to ensure they meet the trust criteria set by the AICPA, including "security, availability, processing integrity, and privacy" controls. Crypto exchange added:

The audit included an overview of the exchange's application, infrastructure and underlying database of Gemini customers, as well as the institutional - level cryptocurrency storage system that stores private keys of Gemini online and offline wallets.

Gemini representatives said they also intend to pass the SOC2 exam of the second type this year to "further confirm the effectiveness of our internal control", and will take the SOC2 exams on an annual basis.

The difference between the first and the second type of exams is that the first requires a report on the internal control of the service organization at a particular time, and the second - for a certain period of time.

Last month, Gemini also published a certification report of the BPM audit company, confirming that it has a Fiat currency to provide its Gemini Dollar (GUSD) stablecoin - as of December 31, 2018, the company had about 91 million dollar reserves to support the GUSD tokens in circulation.

LINK - https://altstake.io/news/kriptobirgha-gemini-proshla-audit-bezopasnosti-ot-deloitte