January 04, 2024
Beosin Emerges as Asia’s First Web3 Security Audit Firm to Successfully Complete SOC 2 Attestation
Breaking down barriers in the blockchain security arena, Beosin, Asia’s trailblazing Web3 security audit company, has officially cleared the stringent SOC 2 attestation process, securing the highly esteemed SOC 2 attestation report. This significant achievement vividly showcases Beosin’s extraordinary prowess and outstanding capabilities as a leading entity in the industry.
SOC 2 is recognized globally as one of the most authoritative and professional data security attestations. It provides organizations and clients with a reliable assessment and assurance of information system controls, aiding them in evaluating and managing risks, ensuring data security, and compliance. The SOC 2 attestation is known for its strict criteria, allowing only vendors with comprehensive security technologies and service systems to successfully complete the audit. Despite being available for several years, only a handful of enterprises worldwide have achieved SOC 2 attestation.
The SOC 2 attestation report for Beosin’s security products, Beosin KYT and Beosin Trace, span multiple critical areas, including data security, vulnerabilities, security incidents, anti-money laundering, and regulatory compliance. Through SOC 2 attestation, Beosin KYT and Beosin Trace demonstrate their high levels of security, confidentiality, and availability, providing trusted services for VASPs (Virtual Asset Service Providers) and law enforcement agencies.
To ensure the continuous effectiveness of Beosin’s security control system, the company has implemented a series of preparatory measures. This includes strict security control measures, comprehensive security policy documents, regular risk management, and compliance assessments. Collaboration with suppliers and partners ensures the strict implementation of security requirements and compliance standards. Additionally, Beosin conducts regular employee training covering security policies, processes, control measures, risk identification, and emergency response to ensure staff understanding of SOC 2 attestation requirements and standards.
Beosin also holds additional cybersecurity insurance, further strengthening the company’s ability to ensure the normal operation of its business. This cybersecurity insurance is established to counter increasingly complex and diverse cybersecurity threats, aiming to protect Beosin’s business from potential security risks and losses. The introduction of this additional insurance not only reflects Beosin’s high regard for information security but also demonstrates the company’s commitment to protecting customer interests and data privacy. The existence of this additional insurance provides customers and partners with additional confidence and security, enabling them to establish relationships with Beosin with greater peace of mind.
The acquisition of SOC 2 audit report is a comprehensive recognition of the security assurance systems of Beosin KYT and Beosin Trace. This attestation proves that Beosin KYT and Beosin Trace comply with international security standards in both design and operation, confirming Beosin’s outstanding capabilities in data security and information management. This attestation will further enhance Beosin’s competitive advantage in the blockchain security domain, providing higher confidence and assurance to its global customers.
Beosin KYT, a virtual asset anti-money laundering compliance and analysis product, leverages blockchain big data analysis technology and advanced AI technology with billions of address labels and a black address database. It helps VASPs build the capability for KYT (Know Your Transactions) and continuous risk assessment by analyzing massive on-chain transaction information, identifying transactions, and utilizing the system’s extensive entity address library and machine learning analysis technology to assess risk transactions. Currently, it has provided services to multiple global clients, helping them comply with anti-money laundering regulatory requirements.
The Beosin team, combining technologies such as big data and AI, has independently developed the Beosin Trace for virtual currency fund tracking and tracing. This product provides stolen fund tracking and investigation services to multiple global clients. With its assistance, clients have successfully recovered hundreds of millions of dollars in stolen assets, including multiple successful retrievals from mixers like Tornado Cash.
Wendy Sun, CEO of Beosin, expressed, “We are very proud that Beosin KYT and Beosin Trace have successfully completed the SOC 2 attestation. This attestation is a result of our continuous investment in the field of data security and information management. We are committed to providing high-level security assurance for global customers, ensuring the security, availability, and confidentiality of their systems and services. The completion of SOC 2 attestation is the best proof of our long-term commitment to high-standard security controls.”
The SOC 2 attestation report for Beosin KYT and Beosin Trace have received international recognition and will serve as a crucial basis for establishing trust and transparency between enterprises and clients. Beosin will continue to dedicate itself to providing excellent security solutions and high-quality customer service, empowering global customers to achieve greater success in the field of blockchain security.
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