Our commitment to customers is paramount. Security and data privacy are critical foundations to enable the trust that is required for long term acceptance and mainstream cryptocurrency adoption. We want to provide complete peace of mind when you use WadzPay platform services.
Our Approach to Security
Providing uninterrupted access to your funds is our priority. Everyone has a role to play in security and we take a complete approach to cybersecurity. We work continuously to manage and mitigate risks in all aspects of people, processes and the technology we use to ensure you and your assets are secure and protected. We use best in class methods to offer you these protections, and partner with industry leaders for both wallet and consumer protections.
How Your Private Keys are Secured
We use Hashicorp Vault to store all private keys. We have custom extensions for the Vault that sign each raw transaction. We never provide keys as output.
To know more around vault features and security please visit https://www.vaultproject.io/docs/internals/security.html
WadzPay leverages Google Cloud Services, its security capabilities and services, as well as Cloudflare.
- ● Cloudflare provides defence against DDoS and other network level attacks.
- ● Cloudflare also ensures that all the traffic is properly encrypted between your browser to Cloudflare, and also from Cloudflare to the Google Cloud servers.
All the services are containerised and only a single web service with a single port is exposed via a cloud load balancer, reducing the entire attack surface to an absolute minimum.
More details on GCP Security Features can be found Here.
Internal Controls & Fraud Prevention
Anti-Money Laundering and Know Your Customer systems
We use a state of the art AML/KYC platform, provided by iOTech solutions. This technology is designed to support digital businesses driving compliance. Extensive KYC checks, including name screening, ID and biometric verification, risk rating analysis and transaction monitoring all ensure that onboarding is easy but also safe and secure.
We use a secondary system to control the flow of users to reduce fraud rates and increase conversions. This implements data enrichment and improves decision making with their AI-powered solutions. We instantly receive background information to create complete user profiles, flag fraudsters and remove suspicion.
Crypto analysis risk assessment
We partner with Uppsala to monitor and take appropriate action on external threat indicators including URLs, tokens and other data. We prevent interaction from potential bad actors based on a database of over 50 million suspect sources which is growing all the time.
All our internal controls are reviewed and overseen by an internal compliance team.
WadzPay App Security
Coding & Testing
Software developers follow our Secure Software Development Lifecycle and our code is peer reviewed. We use a combination of various static source code analysis tools. Full-time staff oversee the quality and logic of the code.
Users will be able to log into the application only after entering the Verification Code shared on their registered email. Additionally, a user will be able to quickly and securely access the application by using a PIN Code or Biometrics stored on their device. Expanded 2FA features are coming soon.
More advanced 2FA features are coming soon.