CoinDCX publishes proof-of-reserves report; holds over $157 million in crypto assets
CoinDCX, a cryptocurrency exchange company has released its proof-of-reserve (PoR) report and the company holds more than $157 million in crypto assets, the company informed in an official release.
As per the official statement, the release of an audited report will bring transparency and strengthen the trust among its users.
“With this certificate, we would like to reassure our users that your exchange is in a healthy condition”. While the current user sentiment is low key it’s important to share maximum information with users about the safety of their VDAs. At CoinDCX, we are committed to staying transparent and it will be our endeavor to build a strong foundation that stands on the pillars of trust, safety, and security for all,” Sumit Gupta, co-founder, CEO, CoinDCX, added.
Meanwhile, the report furnishes both sides of its reserve balance i.e. assets and liabilities, and has been published in partnership with Coingabbar a crypto research firm.
Further, the balance has been duly certified by the statutory auditor, SGCO & Co. LLP, Chartered Accountants as per the format prescribed by the Institute of Chartered Accountants of India.
The PoR is an on-chain and off-chain asset and liability balance along with a complete list of wallet addresses.