Hong Kong-based cryptocurrency platform Crypto.com announced on Wednesday it secured Adaptive (Tier 4) rating from the National Institute of Standards and Technology (NIST) Cybersecurity Framework and the latest NIST Privacy Framework, developed by the US Department of Commerce. The crypto portal claims that it is the first cryptocurrency company to achieve this level with the NIST and the privacy network.
According to Crypto.com, the NIST Cybersecurity Framework provides a framework of security guidance for how private sector organizations can develop, assess and improve their ability to identify, protect, detect, respond and recover from cyber-attacks.
“The NIST Privacy Framework was launched in January 2020, and is used to strengthen privacy protections through enterprise risk management.”
Crypto.com further revealed it was assessed against the core functions of Identify, Protect, Detect, Respond and Recover for the NIST Cybersecurity Framework, and Identify, Govern, Control, Communicate and Protect for the NIST Privacy Framework. Speaking about the tier, Jason Lau, Chief Information Security Officer of Crypto.com stated:
“With the NIST ‘Adaptive’ achievement – which examines our maturity and ability to adapt to the ever-changing cybersecurity and privacy landscape – and ISO’s assessment of our policies, procedures and controls in place, we are once again the first crypto company to achieve some of the industry’s highest security standards.”
Kris Marszalek, Co-Founder and CEO of Crypto.comadded:
“Achieving the highest maturity level based on the NIST Frameworks speaks volumes to our commitment to security and privacy, which have been cornerstones of our business since day one. Having recently surpassed 5 million users, we will continue investing aggressively in technology and process that maintains the highest standards of security and privacy in the industry.”