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Bitstamp Posts Results of Audit, No Problems to Report

Avatar newsbtc 6 years ago

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The Bitstamp bitcoin exchange has reported today that third-party auditors have verified the exchange’s bitcoin balance and confirmed that the exchange held 100 percent of validated bitcoin and USD funds.

“No material issues were raised as a consequence of the 3rd party’s investigations,” the company wrote.

The audit required the creation of of the largest transaction in the history of the digital currency, putting about  $147 million (or over 194,000 BTC) in a single wallet.

The audit comes in the wake of the downfall of exchange Mt. Gox, which lost over 700,000 BTC of user bitcoins and more than 100,000 of their own. Gox has, of course, filed for bankruptcy protection as a result.

As for Bitstamp, the exchange says they’ll be conducting quarterly audits, with results posted on their homepage. [source: CoinDesk]

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