Security Policy

This Security Policy outlines the comprehensive security measures implemented by Private-Coin to protect user data, digital assets, maintain system integrity, and ensure compliance with cryptocurrency exchange security standards and regulatory requirements.

Our security framework is designed to safeguard your cryptocurrencies, digital assets, and personal information through multiple layers of protection, continuous monitoring, and proactive threat mitigation.

Private-Coin employs a defense-in-depth security strategy that includes:

• Multi-layered cryptocurrency wallet security architecture
• Cold storage solutions for digital asset protection
• Advanced threat detection and prevention systems
• Regular security audits and penetration testing
• Compliance with cryptocurrency exchange security standards

Data Classification

All data is classified according to sensitivity levels:

• Public: Non-sensitive information available to the general public
• Internal: Information restricted to authorized personnel
• Confidential: Sensitive user data requiring special protection
• Restricted: Highly sensitive data with the strictest access controls

Data Storage Security

• Encrypted storage using AES-256 encryption
• Secure data centers with physical access controls
• Regular backup procedures with encryption
• Geographic data distribution for redundancy

Authentication Mechanisms

• Multi-factor authentication (MFA) for all user accounts
• Strong password requirements and regular updates
• Biometric authentication where applicable
• Session timeout and automatic logout features

Authorization Framework

• Role-based access control (RBAC)
• Principle of least privilege
• Regular access reviews and audits
• Automated access provisioning and deprovisioning

Data in Transit

• TLS 1.3 encryption for all data transmissions
• Certificate pinning for enhanced security
• Perfect Forward Secrecy (PFS)
• Regular SSL/TLS certificate updates

Data at Rest

• AES-256 encryption for stored data
• Hardware Security Modules (HSMs) for key management
• Encrypted database fields for sensitive information
• Secure key rotation procedures

Continuous Monitoring

• 24/7 Security Operations Center (SOC)
• Real-time threat detection and alerting
• Behavioral analytics and anomaly detection
• Automated incident response workflows

Logging and Auditing

• Comprehensive audit trails for all system activities
• Centralized log management and analysis
• Tamper-evident logging mechanisms
• Log retention policies in compliance with regulations

Response Team

Our dedicated incident response team is available 24/7 to handle security incidents with predefined escalation procedures and response timelines.

Response Procedures

1. Detection: Automated and manual threat detection
2. Analysis: Rapid incident assessment and classification
3. Containment: Immediate threat isolation and mitigation
4. Eradication: Complete threat removal and system cleanup
5. Recovery: System restoration and validation
6. Lessons Learned: Post-incident analysis and improvement

Standards and Certifications

• ISO 27001 Information Security Management
• SOC 2 Type II compliance
• GDPR compliance for data protection
• PCI DSS for payment processing
• NIST Cybersecurity Framework alignment

Regular Assessments

• Annual third-party security audits
• Quarterly penetration testing
• Monthly vulnerability assessments
• Continuous compliance monitoring

Users play a crucial role in maintaining security. Your responsibilities include:

• Using strong, unique passwords for your accounts
• Enabling multi-factor authentication when available
• Keeping your devices and software updated
• Reporting suspicious activities immediately
• Following secure trading practices
• Protecting your login credentials and personal information

Vulnerability Disclosure

We encourage responsible disclosure of security vulnerabilities through our bug bounty program:

• Report vulnerabilities to [email protected]
• Provide detailed information about the vulnerability
• Allow reasonable time for investigation and remediation
• Receive recognition and potential rewards for valid reports

Incident Reporting

If you suspect a security incident:

• Contact our security team immediately
• Preserve any evidence of the incident
• Follow our incident response guidance
• Cooperate with investigation efforts

This Security Policy is reviewed and updated regularly to address:

• Emerging security threats and vulnerabilities
• Changes in regulatory requirements
• Updates to security technologies and practices
• Lessons learned from security incidents

For questions about this Security Policy, please contact our security team at [email protected].