Fumbi news
27. July 2019  • clock 3 min •  Boris Hasko

Independent audit of cryptocurrencies in Fumbi wallets – 07/2019

We are the first

Last week we launched an independent audit of cryptocurrency wallets in cooperation with the SGS. The audit was aimed at comparing the total balances of 31 cryptocurrencies in clients’ wallets with their current values shown in individual blockchains. At the same time, we demonstrated control over these assets, and as the first cryptocurrency investment company, we obtained this type of certificate.

The audit was also exceptional in that it was the first independent inventory of paper wallets in the cryptocurrency world. Security is ensured by our company in that the keys to investors’ cryptocurrencies are stored offline – on paper. Therefore, they are not exposed to a direct threat of hacker attack. As part of the audit, it was necessary to demonstrate control over the funds by moving them from the checked addresses to the newly created addresses ready in the vaults.

Why is it important to do such an audit?

There are countless companies that offer different ways to invest in cryptocurrencies. They may offer to invest through their token (their own cryptocurrency) or other versions of uncontrolled investment where you rarely own the cryptocurrency directly. Such companies usually reside in tax and legal havens, so the enforceability of law is basically zero. It is therefore important to choose a company that is credible and can demonstrate the integrity of its operations.

Our CEO Juraj commented on the issue:

“We are trying to build Fumbi as a company with a strong focus on trust and to show people that investing in cryptocurrencies can be safe. I am very glad that we have started cooperation with SGS to regularly audit and certify the state of our cryptocurrency wallets. ”

About SGS company

The SGS (Société Générale de Surveillance) is the world’s largest organization for the inspection, verification, testing and certification of systems, founded in 1878, based in Geneva since 1919. SGS is recognized as a global benchmark for quality and integrity. With more than 97,000 employees, SGS operates a network of more than 2600 offices and laboratories worldwide.

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Boris Hasko


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