Crypto exchange Shakepay, which describes itself as âCanadaâs fastest-growing bitcoin platform,â conducted a âproof-of-reservesâ audit and acquired an insurance policy to reinforce its security, perhaps learning a lesson from fellow Canadian platforms QuadrigaCX, Einstein and Coinsquare, which all lost customer funds or have otherwise been involved in scandals over the past 20 months.
The Montreal-based crypto exchange hired blockchain forensics firm CipherBlade to conduct a full audit of its reserves and security policies. To safeguard its customersâ funds, the exchange also tapped a third-party custodian and secured a specific insurance policy for its cold wallets through Aon, underwritten by insurers with Lloydâs of London, the exchange announced Wednesday.
Shakepay CEO Jean Amiouny told CoinDesk the exchange supports bitcoin buying and selling, but tries not to actually hold onto its customers crypto holdings any longer than necessary.
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