To reassure our clients, we would like to advise that accountability of client funds remains our top priority.
Integral to managing this, Magnr has never run hot-wallet infrastructure where private-keys are held on online servers.
Bitcoins at Magnr are kept on offline cold storage facilities which require multiple signatories to access. This allows for a greater level of accountability and ensures that we remain in control when accounting for every Satoshi we manage for our clients.
Managing the flow of funds
As part of our strict business protocols, every single client Withdrawal is monitored and subjected to a process of human-audit and manual handling from our cold-storage facilities. This means that fund withdrawals can take up anything up to *24 hours, and is a policy designed to prioritize security over convenience.
Given our strict level of practice, we can confidently advise that since inception of the company in 2014 there has never been a security breach or compromise of client funds under our management.
* Note: Up to 24 hours is merely a guide. Withdrawal Requests are normally processed several times a day. You can read more our Withdrawal Process by following this link.