Ledger, a cryptocurrency company that provides a number of hardware wallet solutions, received a successful Type 1 SOC test.
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Friedman LLP, a New York-based accounting firm, performed a SOC 2 Type 1 test on Ledger.
According to a statement provided to Cointelegraph: With SOC 2 Type 1 report obtained, we are now able to provide an additional layer of certified security for our clients, and ensure that the locker solution ( Vault is secured at all times and that we have processes in place to ensure availability.
Ledger Vault operates as a archiving suite under the broader Ledger Corporation, and is a cryptocurrency storage solution for larger players and companies.
The SOC 2 test analyzes corporate security by auditing and verifying the appropriate handling of customer information by service-based entities.
A blog post from RSS Security made clear that as evidence of compliance with the AICPA audit procedure, the SOC 2 Type 1 report demonstrates that a SaaS company has best practices .
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, in contrast, the SOC 2 Type 2 test raises the bar and tests on deeper criteria while requiring a longer time horizon to get a green light.
During the analysis of SOC 2 Type 1, Friedman investigated Ledger on a number of levels, including disaster recovery strategy and security, as well as a host of technical details. Other.
Charles Guillemitt, Ledger's Chief Technology Officer, said in the statement: “Obtaining this certification is an achievement because it shows that our processes and systems are simple, documented and generally safe. .
and next year, the company aims to obtain SOC 2 Type 2 approval, according to comments in Ledger CEO Pascal Gauthier's statement.
The green light for testing comes after Ledger suffered a database leak several months ago, revealing customer information. The famous hardware wallet company fixed the root issue after the accident.
