Last updated on December 31st, 2022 at 07:09 am
Crypto.com has published a statement that includes its complete Proof-of-Reserves (PoR) information from an audit conducted by the Mazars firm. PoR audit records provided by the firm demonstrate that the client assets of well-known cryptocurrency platforms are safely in custody and fully backed up.
https://t.co/vCNztABJoG releases Proof of Reserves audited results.
Mazars Group compared the assets held in on-chain addresses proven to be controlled by https://t.co/vCNztABJoG with customer balances through an auditor-overseen live query of a production database as of Dec 7. pic.twitter.com/sXgvIe4ZMV
— Crypto.com (@cryptocom) December 9, 2022
This comes after the same auditor published a report verifying Binance’s reserves. Mazars, just as it did with Binance, compared user balances with assets stored in Crypto.com on-chain addresses.
On December 7, 2022, at 00:00:00 UTC, Mazars performed a live database query under the supervision of an auditor to compare the assets stored at on-chain addresses maintained by Crypto.com with user balances.
Kris Marszalek, CEO of Crypto.com, said in a statement:
“Providing audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust. Crypto.com is fully committed to providing customers around the world a safe, secure, and compliant means of engaging with digital currencies.”
The Crypto.com App and Crypto.com Exchange now allow users to verify that the assets in their accounts are securely backed and accessible.
According to a statement by Crypto.com:
“It is now easy for our existing users to verify that Crypto.com has a 1:1 reserve of all customer crypto assets deposited on its platform, and users can confirm the assets in their account are responsibly backed and accessible, both for the Crypto.com App and Crypto.com Exchange.”
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