Custody
User crypto deposits are split across audited cold storage (the majority) and multi-sig hot wallets (operational liquidity). Cold storage partners are independently audited.
Withdrawal authentication
User withdrawals require app-side authentication (biometric or PIN) plus device-binding. Suspicious patterns trigger additional verification.
Fraud monitoring
Continuous transaction monitoring on both crypto and naira sides. Velocity rules, address-blacklist matching, and behavioural anomaly detection.
Data protection
NDPA-aligned data handling. KYC documents stored encrypted with restricted access. No third-party sharing without explicit consent or legal requirement.
What you should still do
Strong unique app password. Authenticator-app 2FA. Bookmark monica.cash. Never share seed phrases (Monica never asks). Never click 'support' links from random sources.
FAQ
Is my crypto in cold storage?
Majority yes; operational liquidity in multi-sig hot wallets.
Has Monica been hacked?
No platform-side compromise to date.
What if my phone is stolen?
Lock account from any other device via support; the account is biometric-protected.
Is data shared?
No third-party sharing without consent or legal requirement.