MiCA (Markets in Crypto-Assets Regulation) has been fully applicable across the EU since December 2024, and Cyprus, already home to a large CIF and forex sector, has become one of the more active jurisdictions for Crypto-Asset Service Provider (CASP) licensing through CySEC. A CASP inherits much of the same ICT and security risk management scrutiny CySEC already applies to CIFs, layered onto an environment that also has to safeguard client crypto-assets and private keys.
We test the platform, the custody layer, and the ICT risk documentation together, so your licensing file and your production environment tell the same story.
We test your trading or exchange platform, custody and wallet infrastructure, and client onboarding and KYC/AML flows, and run an ICT risk gap analysis mapped to what CySEC expects for MiCA licensing — the same rigour applied to CIFs, extended to hot/cold wallet separation, key management and crypto-specific integrations.
Why it matters
Crypto platforms are an outsized target: transactions are frequently irreversible, and custody arrangements resemble holding bearer assets. CySEC is applying its existing CIF-grade supervisory posture to this newer asset class, and MiCA explicitly makes operational resilience and ICT risk part of both initial licensing and ongoing supervision, not a one-time box to tick.
What we test
- CASP trading / exchange platform penetration testing
- Custody & wallet infrastructure security testing
- Key management & hot/cold wallet separation review
- Client onboarding & KYC/AML data exposure testing
- API & third-party integration testing (liquidity, on/off-ramp)
- MiCA ICT risk gap analysis
Common vulnerabilities we uncover
- Weak separation between hot and cold wallet infrastructure
- Private key management practices with single points of failure
- KYC/AML data exposed through weak access controls
- Third-party liquidity or custody integrations with excessive trust
- Missing ICT risk documentation for MiCA licensing
- Unclear incident response process for custody or on-chain incidents
How we run your engagement
- Kick-off & scoping. A short call to agree goals, in-scope assets and rules of engagement, so your mica & casp penetration testing cyprus is safe, authorised and aimed at your real business risk.
- Mapping & discovery. Before touching anything we map the full attack surface in scope, so nothing exploitable slips through.
- Hands-on testing. Cyprus-based specialists exploit and chain weaknesses manually — the flaws scanners walk straight past — to show genuine impact.
- Reporting. Each issue is verified, CVSS-rated and documented with a step-by-step reproduction and a practical fix your team can apply.
- Free retest. Once you have remediated, we re-test at no extra cost to confirm the attack path is truly closed.
Tools & techniques
We manually test the trading or exchange platform, custody and wallet infrastructure, and any third-party liquidity or on/off-ramp integrations, with particular attention to key management and the separation between hot and cold wallet infrastructure — the specific attack surface that distinguishes a CASP from a standard CIF.
When you need this engagement
- You are applying for, or hold, a CASP licence from CySEC under MiCA
- You are launching a crypto exchange, custody or wallet service from Cyprus
- Your licensing application needs ICT risk or security testing evidence
- You are combining MiCA obligations with existing CIF/CySEC requirements
- You need a technical assessment of custody and key management specifically
What you receive
- Platform & custody penetration test report
- Key management review
- MiCA ICT risk gap analysis
- KYC/AML data exposure findings
- Prioritised remediation roadmap
- Free retest after remediation
Your deliverables
When your mica & casp penetration testing cyprus wraps up, you receive a clear, audit-ready report plus a walkthrough call with your team. Inside you will find:
- A concise executive summary that management and the board can act on
- Every technical finding with a reproducible, copy-paste proof of concept
- CVSS v3.1 ratings and plain-language business impact for each issue
- Practical, prioritised remediation your developers can implement straight away
- A free retest and updated finding status once fixes are in place
- A signed attestation letter for clients, auditors, GDPR, NIS2 and ISO 27001
Standards & frameworks
MiCA (EU 2023/1114)
CySEC CASP licensing framework
DORA (where applicable)
What you gain
By the end of your mica & casp penetration testing cyprus, you will know exactly which weaknesses a real attacker could exploit, what it would cost your business, and the precise order in which to fix them — backed by evidence, not a scanner’s guesswork. Cyprus firms use our findings to close critical gaps, satisfy client and regulator security questionnaires, and demonstrate due diligence for GDPR and NIS2. With a free retest included, you also get documented proof the issues are resolved.
Working with us
Every mica & casp penetration testing cyprus begins with a short, no-obligation scoping call to understand your goals, environment and constraints, followed by a fixed-price proposal. Most work is delivered remotely, and because we are based in Cyprus we work in your timezone with on-site visits across Limassol, Nicosia and island-wide where it helps. We keep you updated throughout and flag any critical finding immediately rather than waiting for the report. Everything is covered by a signed NDA and safe, non-disruptive testing that protects your production systems. You receive your report, a walkthrough and a complimentary retest once fixes land. Engagements are typically booked one to three weeks ahead, and urgent testing can often be arranged — just email hi@cypruspentest.com.
Why Cyprus businesses choose CyprusPentest
Your mica & casp penetration testing cyprus is run by senior offensive-security specialists who test the way genuine attackers do — manually, creatively and focused on proving real impact. What sets us apart:
- Based in Cyprus — local, in your timezone, with on-site coverage across Limassol and Nicosia.
- Manual, exploit-led testing that chains vulnerabilities the way an attacker would, well beyond automated scanners.
- Reproducible proof for every finding, with copy-paste steps your team can independently verify.
- Compliance-ready reporting that supports GDPR, NIS2, ISO 27001 and CySEC expectations.
- A free retest so you have documented evidence your fixes actually hold.
- Fixed-price and responsive, with a named point of contact from scoping through to retest.
Explore related services
MiCA & CASP Penetration Testing Cyprus pairs well with our other Cyprus penetration testing services for fuller coverage. You may also want:
How much does MiCA & CASP Penetration Testing Cyprus cost?
Every mica & casp penetration testing cyprus in Cyprus is scoped and priced individually, so you pay only for the coverage you need — with no hidden extras. After a short, no-obligation scoping call we send a fixed-price quote, usually within one business day, with clear deliverables, a firm timeline and a complimentary retest included. The price depends on the size and complexity of your environment, so you always know the cost up front before any work begins.
Get a fixed-price quote
Frequently asked questions
Does MiCA require penetration testing?
MiCA does not name penetration testing by that exact term, but its ICT risk management expectations, aligned with what CySEC already applies to CIFs and increasingly with DORA, are in practice evidenced through security testing during licensing and ongoing supervision.
What is different about testing a CASP versus a regular CIF?
Custody and key management. A CASP holds client crypto-assets directly, so wallet architecture, hot/cold separation and key management get the same scrutiny a CIF's trading platform gets, plus crypto-specific attack surface.
Do you test smart contracts too?
Where your platform interacts with or deploys smart contracts, we can scope that separately — this service focuses on the platform, custody and ICT risk layer most CASPs need first.
How does this relate to your CySEC ICT risk service?
Same underlying framework, adapted to crypto-specific infrastructure — many CASPs need both, since MiCA licensing sits alongside existing CySEC ICT risk expectations.