Tag: Audit

Seized crypto safe with US Marshals Service? Not so much, new audit reveals

boss

The Office of the Inspector General (OIG) for the United States Department of Justice conducted an extensive audit of the cryptocurrencies seized by the U.S. Marshals Service (USMS) — revealing the dire need for the federal agency to revamp its existing crypto management and policy systems. OIG’s audit on the seized cryptocurrencies found the USMS implementing adequate safeguards over its storage and access. However, the agency was found to be using spreadsheets to maintain track of the inventory owing to the inability of the existing system, Consolidated Asset Tracking System…

Yield App Passes ‘Proof of Reserves’ Audit to Bolster Safety and Accountability of Deployed Digital Assets – Sponsored Bitcoin News

boss

sponsored PRESS RELEASE. Yield App, one of the rising and most trusted digital wealth platforms, recently underwent a thorough ‘proof of reserves’ audit. The inspection was conducted by Armanino LLC, the firm responsible for auditing Kraken – one of the largest and most trusted cryptocurrency exchanges in the world. Yield App passed the audit with flying colors, bolstering its stance on safety and accountability of the assets deployed by customers into portfolios available on its platform. What is ‘proof of reserves’? A proof of reserves is an independent audit of…

Former ConsenSys employees file for audit claiming ‘serious irregularities’

boss

A group claiming to represent 35 former ConsenSys AG (CAG) employees has requested an audit under the Swiss Code of Obligations to investigate “serious irregularities” they allege occurred at the company during mid-2020. CAG, also known as Mesh, is the company behind top Ethereum-based wallet provider MetaMask and was founded by Joseph Lubin, who is also the co-founder of Ethereum. According to a press release, the group of employees who claim to represent around 50% of all known shareholders submitted the request to a Swiss Court on March 1. The…

Who Audits the Auditors? Smart Contract Audit Token (SCATDAO) to Hold a Public Sale on KICK․IO – Press release Bitcoin News

boss

press release PRESS RELEASE. The world of audit has always had an inherent problem, the conflict of interest that comes from paying for audit services. Auditors are meant to be independent of their clients, but how can you be independent when you are auditing your employer? With countless instances of paid auditors issuing fraudulent attestations to keep their clients happy – say, Enron, WorldCom, and Tyco, to name just a few – the world is finally waking up to the need for alternative decentralized and independent solutions. That’s why we’re…

Yield App Assets Grow 40% Over Q4 as Platform Passes Armanino Audit – Press release Bitcoin News

boss

press release PRESS RELEASE. ESTONIA — 03 FEBRUARY 2022 — Yield App, a FinTech company and digital asset wealth management platform, has published its 2021 Q4 report, showing the firm continuing on a strong growth trajectory that saw its managed assets grow by 40% from Q3 to reach $475 million. In addition, the platform has published the results of an inspection by leading global auditor Armanino that shows its assets firmly in the black. The firm, which recently celebrated the launch of a revamped “V2” platform, said managed assets increased…

Kraken Says Proof-of-Reserves Audit Shows $19B in Bitcoin and Ether

boss

Kraken on Thursday announced the results of a proof-of-reserves audit showing the crypto exchange held $19 billion in bitcoin and ether. Other crypto assets were not included in the audit. Armanino completed the independent audit on Dec. 31, 2021, a Kraken representative told CoinDesk. A culmination of “years” of work, said Chief Product Officer Jeremy Welch, it required reconstructing a merkle tree to prove every coin was proper. The audit’s release comes as crypto firms race to burnish their credibility amid mounting scrutiny from regulators and traders. Kraken itself has…

Crypto Exchange Bitbay Passes Audit Under Estonia’s Tougher New Regulations – Exchanges Bitcoin News

Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year. The European trading platform has recently passed an independent audit that confirmed its “solvency, security and fiscal responsibility.” Audit Examines AML and KYC Procedures at Bitbay Bitbay, a leading crypto trading platform in Europe, is now a fully licensed and regulated exchange under Estonia’s stringent regulations imposed last fall. The company has been audited by an independent third party which thoroughly examined its accounting practices, including anti-money laundering (AML) and know-your-customer…

Crypto Exchange Bitbay Passes Audit Under Estonia’s Tougher New Regulations – Exchanges Bitcoin News

Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year. The European trading platform has recently passed an independent audit that confirmed its “solvency, security and fiscal responsibility.” Audit Examines AML and KYC Procedures at Bitbay Bitbay, a leading crypto trading platform in Europe, is now a fully licensed and regulated exchange under Estonia’s stringent regulations imposed last fall. The company has been audited by an independent third party which thoroughly examined its accounting practices, including anti-money laundering (AML) and know-your-customer…