Security Policy
Effective Date: 1st Aug 2024
At Hyphans, the security of our users’ data, digital assets, and transactions is our top priority. This Security Policy outlines the practices, procedures, and technologies we employ to ensure the protection of information on our platform.
By using Hyphans, you acknowledge and accept the security practices outlined in this policy.
- Objective
This Security Policy is intended to protect the integrity, confidentiality, and availability of the information and digital assets that are stored, transmitted, or processed on the Hyphans platform. We aim to prevent unauthorized access, data breaches, and fraud.
- Scope
This policy applies to all individuals and entities that use the Hyphans platform, including but not limited to:
– Users
– Employees
– Contractors/Developers
– Vendors
– Partners / Channel Partners/ Associates
It covers all forms of digital information, including user data, transaction records, and HYPN tokens.
- Security Protocols
3.1 Encryption – Data Encryption in Transit: All data transmitted between users and the Hyphans platform is protected using industry-standard SSL/TLS encryption to ensure that sensitive information is not intercepted or altered during transmission.
– Data Encryption at Rest: All sensitive user data, including personal information and wallet details, are encrypted using advanced encryption standards (AES-256) when stored on our servers.
3.2 Access Control – User Authentication: Hyphans requires users to create a strong password and provides the option to enable two-factor authentication (2FA) for added security during login.
– Role-Based Access Control (RBAC): Employee access to sensitive data is restricted based on roles and responsibilities, ensuring that only authorized personnel can access specific types of information.
– Third-Party Access: Any third-party service providers or contractors who require access to the system must adhere to Hyphans’ strict security protocols and sign confidentiality agreements.
3.3 Network Security
– Firewall Protection: Our platform employs firewall protection to monitor and control incoming and outgoing network traffic, preventing unauthorized access.
– Intrusion Detection and Prevention Systems (IDPS): Hyphans uses IDPS to detect suspicious activities and potential threats in real time, ensuring that corrective action is taken swiftly.
– Regular Penetration Testing: We conduct regular penetration tests and vulnerability assessments to identify and address any security weaknesses in the platform.
- Asset Security
4.1 Wallet and Digital Asset Security
– Non-Custodial Wallets: Hyphans does not store users’ private keys, as users are responsible for the management of their own wallets. However, we provide guidance on secure wallet practices.
– Smart Contract Audits: The smart contracts governing HYPN tokens are regularly audited by independent security firms to ensure that there are no vulnerabilities or loopholes that could be exploited.
– Multi-Signature Transactions: For high-value or sensitive transactions, we use multi-signature technology, ensuring that multiple approvals are required before any transaction is executed.
4.2 Cold Storage
– A significant portion of Hyphans’ reserve funds and digital assets are stored in cold wallets (offline storage) to reduce exposure to potential online threats, including hacking and phishing attacks.
- Incident Management
5.1 Monitoring and Reporting
– Continuous Monitoring: Our systems are continuously monitored for unusual or suspicious activity, ensuring that potential security incidents are detected early.
– Incident Response Team: Hyphans has a dedicated team responsible for responding to any security breaches, ensuring that incidents are addressed quickly and efficiently to minimize the impact on users.
5.2 Incident Response Plan
– In the event of a security breach or incident, we will follow a predefined incident response plan, which includes:
– Immediate containment of the threat
– Assessment of the impact
– Notification of affected users (where applicable)
– Mitigation and remediation of vulnerabilities
5.3 User Reporting
– Users are encouraged to report any suspicious activity or potential security vulnerabilities to our security team at [Insert Contact Email]. All reports will be investigated thoroughly.
- User Responsibilities
While we employ robust security measures, the security of the platform also depends on the actions of our users. We encourage users to follow these best practices:
– Enable Two-Factor Authentication (2FA): Users should enable 2FA for an additional layer of security when accessing their account.
– Use Strong Passwords: Passwords should be unique, complex, and regularly updated. Users should avoid using the same password across multiple platforms.
– Protect Private Keys: Users are responsible for the security of their wallet private keys. These should be stored offline in a secure manner, such as in a hardware wallet.
– Be Cautious of Phishing Scams: Hyphans will never ask for your private keys, passwords, or sensitive information via email or direct message. Always verify the legitimacy of communications.
- Compliance and Auditing
7.1 Regulatory Compliance: Hyphans complies with all applicable laws and regulations, including but not limited to:
– Data Protection Laws: Hyphans adheres to global data protection regulations, such as GDPR (General Data Protection Regulation) and other relevant privacy laws, to ensure that users’ personal data is handled securely.
– Anti-Money Laundering (AML) & Know Your Customer (KYC): We follow strict AML/KYC protocols to prevent illegal activities such as money laundering and terrorist financing through our platform.
7.2 Internal Audits
– Regular Audits: We conduct regular internal security audits to ensure that our security controls are functioning as expected and that we are up to date with the latest security standards.
– Third-Party Audits: External audits are performed periodically by independent firms to verify the integrity of our platform’s security and compliance practices.
- Updates to the Security Policy
Hyphans reserves the right to update this Security Policy at any time. Any changes will be communicated to users through the website or via email. We encourage users to review this policy periodically to stay informed of our security practices.
- Contact Us
If you have any questions or concerns about this Security Policy, or if you believe that your account or personal information has been compromised, please contact us immediately at:
Hyphans Security Team
Email: [email protected]