What happened
Polygon Blog reported the completion of a SOC 2 Type 1 examination for the API and dashboard of Polygon Open Money Stack; a Type 2 examination is ongoing.
Why it matters
The completion of a Type 1 examination denotes an assessment of stated security controls, but a complete picture will require the results of the ongoing Type 2 examination and additional information.
Polygon Blog reported that the independent auditing firm Schellman & Company completed a SOC 2 Type 1 examination for Polygon Open Money Stack. According to the publication, Polygon Labs has implemented appropriate security controls for the API and dashboard of this stack.
The publication also indicates that a SOC 2 Type 2 examination has already begun. For users and partners, this signifies the emergence of a statement regarding assessed controls, however, the provided source package contains no independent confirmation of the result or audit details.
Confirmed facts
- Polygon Blog reported the completion of a SOC 2 Type 1 examination for Polygon Open Money Stack.
- Schellman & Company was named as the independent auditing firm that conducted the examination.
- The publication states that Polygon Labs has implemented appropriate security controls for the API and dashboard of Polygon Open Money Stack.
- A SOC 2 Type 2 examination has already begun.
Context
Source is a Polygon Blog publication; the package contains only a brief synopsis of its metadata, without the full text of the audit report and without independent confirmation.
What remains unknown
- What is the full scope and period of the SOC 2 Type 1? examination?
- Which specific control measures were assessed for the API and dashboard?
- When will the SOC 2 Type 2 examination conclude, and will its results be published?
- Are there independent sources confirming the findings of Polygon Blog?
Editorial context
Confidence: medium
The probable significance of the event is increased transparency of stated security procedures for potential users and partners. The next observable signal will be the publication of SOC 2 Type 2 results or details of the current examination. Substantial uncertainty remains due to the lack of independent confirmation and a full audit report in the source package.