Does LedgerX undergo financial and security audits?
LedgerX has undergone independent annual audits covering financials, cybersecurity systems, internal control mechanisms, and more.
- Anti Money Laundering (AML): Ernst & Young staff conducted a full analysis and review of our OFAC (Office of Foreign Assets Control) procedures and AML processes, strategy, policy, controls and related technologies
- Financial Condition: Grant Thorton audited LedgerX’s financial condition and expressed an unqualified opinion (i.e., clean bill of health) that our financial statements were presented fairly, in all material respects, in accordance with US GAAP accounting principles.
- Digital Currency: Because we custody bitcoin on behalf of our clients, Grant Thorton conducted a thorough examination of how we hold digital assets
- Security: Praetorian, a trusted name in cybersecurity, performed an Information Technology (IT) Security Risk Assessment that evaluated the effectiveness of LedgerX’s existing security controls.
- Internal Controls: Friedman LLP, a well known auditor in digital currency accounting, conducted an audit of our internal controls (technically known as a SOC I Type II Audit) to ensure that they are operating effectively and appropriately protecting client data.
- Onsite IT systems: Every year, the CFTC examines one aspect of our operations with a special emphasis. Last year, this examination covered our onsite systems and safeguards.