1. Introduction

This Security Policy outlines the measures, practices, and procedures that Escrowfy employs to protect the security and integrity of our platform, user data, and transactions. Our commitment to security is fundamental to maintaining trust in our escrow services and marketplace.

This policy also details user responsibilities and recommendations for maintaining security when using our platform.

2. Platform Security Measures

2.1. Data Encryption

Escrowfy implements robust encryption measures to protect data:

• All data transmitted between users and our servers is encrypted using TLS (Transport Layer Security) protocols
• Sensitive data at rest, including payment information and authentication credentials, is encrypted using industry-standard encryption algorithms
• Cryptocurrency wallet addresses and transaction data are secured with appropriate encryption
• We regularly update our encryption protocols to maintain alignment with current security standards

2.2. Infrastructure Security

Our infrastructure is designed with multiple security layers:

• Secure hosting environment with physical and network security controls
• Regular security assessments and penetration testing of our infrastructure
• Firewalls and intrusion detection/prevention systems to monitor and block malicious traffic
• DDoS (Distributed Denial of Service) protection measures
• Regular system updates and security patches
• Isolated environments for development, testing, and production systems

2.3. Application Security

Our application is developed with security as a priority:

• Secure coding practices and code reviews focused on security
• Regular application security testing, including static and dynamic analysis
• Protection against common web vulnerabilities such as XSS, CSRF, SQL injection, and others
• Rate limiting and anti-automation measures to prevent abuse
• Continuous monitoring for unusual or suspicious activities

3. Account Security

3.1. Authentication

We implement multi-layered authentication mechanisms:

• Strong password requirements, including minimum length and complexity
• Two-factor authentication (2FA) support for additional security
• Secure password reset procedures with verification steps
• Session management with automatic timeouts and secure cookies
• Login monitoring with alerts for suspicious activities (unusual locations, multiple failed attempts)

3.2. Access Controls

Our access control system ensures appropriate restrictions:

• Role-based access controls for both users and internal staff
• Principle of least privilege for all system and data access
• Regular access reviews and revocation of unnecessary privileges
• IP restrictions for administrative access
• Audit logging of significant security events and access attempts

4. Payment and Transaction Security

4.1. Escrow Protection

Our escrow system includes security features specifically designed to protect transactions:

• Segregated escrow accounts separate from operational funds
• Multi-signature requirements for high-value transactions
• Transaction verification steps before funds release
• Dispute resolution mechanisms with secure evidence handling

4.2. Cryptocurrency Security

For cryptocurrency transactions, we implement specialized security measures:

• Cold storage for the majority of cryptocurrency holdings
• Multi-signature wallets for operational cryptocurrency funds
• Transaction monitoring for unusual patterns
• Verification of destination addresses before processing withdrawals
• Confirmation requirements proportional to transaction value

4.3. Fraud Prevention

Our fraud prevention system includes:

• Transaction monitoring algorithms to detect suspicious patterns
• Identity verification processes scaled to transaction risk
• Device fingerprinting to detect suspicious access patterns
• Velocity checks to identify rapid or unusual transaction sequences
• Manual review processes for flagged high-risk transactions

5. Data Protection and Privacy

5.1. Data Minimization and Retention

We follow data protection principles:

• Collection of only necessary data for platform functionality and legal compliance
• Clear data retention policies with defined retention periods
• Secure data deletion when retention is no longer necessary
• Anonymization or pseudonymization of data where appropriate

5.2. Third-Party Integrations

For external services and integrations:

• Careful vetting of third-party service providers
• Data sharing limited to what is necessary for service provision
• Security and compliance requirements for all service providers
• Regular review of third-party security practices

5.3. Compliance with Regulations

We maintain compliance with relevant data protection regulations:

• Implementation of privacy by design principles
• Processes for handling data subject rights and requests
• Regular data protection impact assessments
• Staff training on data protection requirements

For more details on our data handling practices, please refer to our Privacy Policy.

6. Security Incident Response

6.1. Incident Detection and Response

We maintain a comprehensive incident response plan:

• 24/7 monitoring systems to detect potential security incidents
• Defined incident response procedures and escalation paths
• Trained incident response team ready to address security events
• Regular testing of incident response procedures
• Post-incident analysis to prevent recurrence

6.2. Notification Procedures

In the event of a security incident affecting users:

• Timely notification to affected users according to relevant regulations
• Clear communication about the nature of the incident and its potential impact
• Guidance on steps users should take to protect themselves
• Transparent updates on our response and remediation efforts
• Notification to relevant authorities as required by law

7. User Security Responsibilities

7.1. Account Security

Users are responsible for maintaining the security of their accounts:

• Create strong, unique passwords for your Escrowfy account
• Enable two-factor authentication for additional security
• Keep your login credentials confidential and never share them
• Log out from your account when using shared or public computers
• Regularly check your account for unauthorized activity
• Update your password periodically and after any suspected security incident

7.2. Safe Platform Usage

We recommend these practices for secure use of our platform:

• Access Escrowfy only through the official website or app
• Verify the website URL before entering login information (https://www.escrowfy.com)
• Be cautious of phishing attempts trying to steal your credentials
• Keep your devices and software updated with security patches
• Use up-to-date antivirus and anti-malware software
• Be wary of suspicious links or attachments in messages, even if they appear to come from Escrowfy

7.3. Transaction Security

For secure transactions on our platform:

• Conduct all communication and transactions within the Escrowfy platform
• Do not share payment information outside our secure system
• Verify cryptocurrency addresses carefully before sending funds
• Report suspicious transaction requests or unusual behavior
• Review transaction details thoroughly before confirmation

8. Security Reporting and Bug Bounty

8.1. Reporting Security Issues

If you discover a security vulnerability or issue:

• Report it immediately to security@escrowfy.com
• Provide detailed information to help us understand and reproduce the issue
• Do not publicly disclose the issue until we've had a chance to address it
• Practice responsible disclosure principles

8.2. Bug Bounty Program

Escrowfy operates a bug bounty program to reward security researchers who responsibly disclose vulnerabilities:

• Rewards are based on the severity and impact of the reported vulnerability
• All reported issues are evaluated by our security team
• Participation in the program requires adherence to our responsible disclosure policy
• For details on scope, rewards, and submission process, visit our Bug Bounty page

9. Security Updates and Education

Escrowfy is committed to ongoing security improvements and user education:

• Regular platform security updates and enhancements
• Security advisories for users when relevant
• Educational resources on security best practices
• Periodic security tips and reminders through our blog and newsletters

We encourage users to stay informed about these updates and recommendations.

10. Changes to This Policy

Escrowfy reserves the right to modify this Security Policy at any time. Changes will be effective upon posting to the website. We will notify users of significant changes via email or platform notification. Your continued use of our platform after such changes constitutes acceptance of the modified policy.

11. Contact Us

If you have any questions about our Security Policy or concerns about the security of our platform, please contact our security team:

Email: security@escrowfy.com

Or through our support ticket system available on our website.