Independent audit of cryptocurrencies in Fumbi wallets - 07/2020
Published: 31. 07. 2020 ·
Third successful audit in Fumbi
The third successful audit in Fumbi in cooperation with the Slovak company SGS Slovakia, which is a member of the global SGS group. The aim of the audit was to compare the total balances of the values of 25 cryptocurrencies in client wallets with the actual values shown on each blockchain. At the same time, as a company, we have demonstrated control over these funds, and as the first cryptographic investment company to obtain this type of certificate.
The audit was also exceptional in that it was the third 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 attacks. 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 Slovakia to regularly audit and certify the state of our cryptocurrency wallets. ”
We regularly update our cryptocurrency portfolio. It currently has 25 cryptocurrencies. We added ten new cryptocurrencies while removing ten old cryptocurrencies. It is essential to us to sort and remove cryptocurrencies that have ceased to meet our standards, whether in terms of security or investment potential.
About SGS company
The SGS (Société Générale de Surveillance) is the world's largest organisation 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.