AAX is invested in complying with the Cryptocurrency Security Standard (CCSS), a universally recognized standard for securing cryptocurrency systems. It consists of a comprehensive list of security measures for any system that stores, transacts, or accepts cryptocurrencies.
All accounts on AAX require Two-Factor Authentication to operate. In addition to a username and password, users will need to enter a temporarily valid, one-time code, which adds an extra layer of security to their account. While there is a risk that a single factor such as a password may be compromised, requiring a second factor can effectively mitigate risk.
AAX has built a proprietary multi-currency wallet system. This system complies with industry standards, is multi-signature and offers no single point of failure. There is no dependency on a single source of security and robust recovery protocols are in place.
Additionally, AAX has Hardware Security Modules (HSMs) in place to protect end-user private keys used to co-sign transactions.
The majority of digital assets on AAX are held in secure offline storage facilities, leveraging industry-standard encryption technologies across multiple tiers. Sensitive data that normally resides on company servers is disconnected entirely from the Internet.
Upon request, AAX is also able to offer insured crypto custody within fully regulated entities.
AAX is honored to have Kroll, the leading global provider of risk solutions as its security advisor. Kroll has provided risk solutions for financial institutions, software and internet, law firms and government agencies from around the globe since 1972.
Led by Paul Jackson, Managing Director and Asia Pacific Leader Cyber Risk at Kroll, AAX's security is well-supported. Paul has over 25 years of experience as a cyber security practitioner, strategist, and thought leader.
He has developed a highly nuanced view of global cyber security challenges by leading cyber investigations for organizations such as the Hong Kong Police Force, JP Morgan Chase Bank, Stroz Friedberg and Kroll.