Security is our Priority
It all starts with building a secure customer experience and maintaining leading security controls to safeguard your accounts and assets.
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Industry Leading Security
- Client funds will be held in MidChains’ accounts within the relevant jurisdictions (ADGM, VARA, or SCA), ensuring compliance with the regulatory protections set forth by FSRA, VARA, and SCA, respectively.
- Accepted Virtual Asset received by MidChains from Clients will be received and securely stored by the Company, whereas MidChains will be sole custodian of the private keys.
- Client’s Accepted Virtual Assets shall be held segregated from Accepted Virtual Assets belonging to MidChains.
- MidChains shall conduct a daily reconciliation of your Accepted Virtual Assets that Company holds on your behalf.
- Two Factor Authentication (2FA) is required by default to transact with your account.
- Support for hardware security keys via WebAuthentication to secure your account with the strongest 2FA protection.
- Rate limiting is applied to account operations, such as your login attempts in order to thwart attacks.
- Wallet address whitelisting that restrict withdrawals only to approved wallet addresses.
- Multiple approvals are required to transfer assets.
- MidChains offices do not contain any private keys. All private keys are stored offsite with approved data centres.
- Employees maintain a high standard of integrity, fair dealing and conduct business with due skill, care and diligence.
- Based on the clients’ requirements and the specific activities essential for MidChains to cater to them effectively, we will ensure compliance with the regulatory standards set forth by FSRA of ADGM, VARA, or SCA
- Clients’ assets with MidChains are subject to ongoing regulatory checks and industry best practices.
- MidChains engages third parties to perform penetration tests to proactively identify and resolve security vulnerabilities
Security General Guidance
Follow these simple guidelines to ensure that you’re using the internet as securely as possible and help secure your MidChains account.
It’s common for software companies to release upgrades in three different ways; to introduce new features, to fix known bugs and more importantly to upgrade the security of their products. Keeping your devices software up-to-date will reduce the risks of breaches and increase the protection from security vulnerabilities.
Any online account should be protected by a strong password. The longer and more complex the password, the better. Avoid using the same password for multiple accounts. If one password is compromised, all your accounts will be at risk.
Emails with malicious attachments are the most common source of malware and viruses, so always be cautious opening emails from unknown sources.
Phishing is when someone steals your identity or defrauds you by using the information you provide. Be aware of who is requesting your personal information online. A suspicious website that asks for your financial details should be a red flag, as should an unsolicited email asking for personal or account information. Always scrutinize the source of any information you receive and never be afraid to ask for more information from the sender/requester.
In public WIFI, you are connected to a network shared by many other people, and while most public networks have some level of security built in, malicious users could use the same network to capture any information you send/receive over the WIFI. When logging onto your MidChains account, other financial websites or websites that requires sensitive information, use your home or office network whenever possible to avoid unwillingly sharing sensitive information.
Be aware of what you are posting when you use public sites, such as social media. Once that information is uploaded or shared, it is stored for a long time and you have no control over it.
