In the dynamic and rapidly evolving world of cryptocurrency, the security of your investments is paramount. At Mudrex, we understand this concern and are committed to providing a platform that prioritizes the safety of your funds and data. This comprehensive guide will walk you through our robust security measures, answer common questions, and provide insights from our recent AMA session.
Our Commitment to Security: A Multi-Layered Approach
We believe in a holistic approach to security. This means we implement measures at every level of our platform to protect your assets:
- Routine Audits: We conduct thorough audits every 30 minutes, with near real-time calculations happening every minute to track fund movements. These audits are not only internal but also shared regularly with external auditors to ensure unbiased verification.
- Insured Custodians: All user funds are held with insured custodians. This means that even in the unlikely event of a breach, your assets are protected by insurance coverage.
- Distributed Storage: We store funds across multiple wallets to avoid the risk of a single point of failure. This distributed approach adds an extra layer of protection.
- Withdrawal Limits and Firewalls: We enforce strict withdrawal limits and use firewalls to prevent unauthorized access to funds. These measures significantly reduce the risk of malicious activity.
- Limit Checks: We have daily, weekly, and monthly limit checks in place to detect any unusual activity and prevent large, unauthorized outflows of funds.
Q&A: Addressing Your Concerns
Recently, we held a live Ask Me Anything (AMA) session on Telegram with our CEO and Founder, Edul Patel, to address your security questions directly. Here are some key takeaways:
- Are my funds safe on Mudrex? Absolutely. We employ multiple layers of security, including audits, insured custodians, distributed storage, withdrawal limits, and limit checks to ensure the safety of your funds.
- How does Mudrex comply with regulations? We are registered as a VASP with regulatory bodies in India, Italy, and Europe. We adhere to strict KYC/AML procedures, tax compliance, and high-security standards.
- How transparent is Mudrex? Transparency is a core value. You have full visibility into your funds, and transaction statements are readily available. We share audit reports with our auditors regularly.
- Can Mudrex handle sudden surges in activity? Yes, we maintain 100% of user funds available and have automated processes to transfer funds from cold storage to hot wallets quickly. We also have strong partnerships to ensure INR liquidity.
- What is Mudrex’s dispute resolution process? Contact our support team at help@mudrex.com for transaction issues. We aim to resolve 90-95% of issues within 24 hours.
- Does Mudrex provide insurance? While we don’t directly provide insurance, we work with insured custodians. The coverage limit is $100 million collectively, with a conditional guarantee of up to $1 billion.
- How does Mudrex communicate updates? We communicate via email, our official blog, and our Twitter and Telegram channels.
- What is Mudrex’s relationship with partner companies? We operate as a broker, aggregating transactions across exchanges. Our parent company is a US entity, but we have registered entities in India and the EU. User funds are kept with insured custodians in the EU.
We Value Your Trust
We hope this deep dive into Mudrex’s security practices gives you confidence in our platform. We are continuously working to enhance our security measures and maintain the highest standards of protection for your investments.
If you have any further questions, we encourage you to watch the full AMA session and join the conversation on our Telegram channel.
