OKX, Kucoin say proof of reserves will be ready in a month
Similar protocols are used by Kraken, Bitmex, Gate.io, and many other exchanges, but were not used by FTX. In the wake of the FTX liquidity crisis, two major crypto exchanges have announced that they will provide Proof of Reserves, also known as Proof of Funds (PoF) within the next month. In an official tweet, OKX stated “We're hiring Armanino for auditing & will publish an auditable Merkle POF asap.” The company then listed 23 BTC addresses and 13 Ethereum addresses containing some of the exchange’s reserves.For #OKX, transparency, risk management, & consumer protection come first. We're....
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Over the past few days, major crypto exchanges, including Binance, OKX, Kucoin and Crypto.com, committed to sharing their proof of reserve to regain investor confidence. The fall of major crypto ecosystems — such as FTX and Terra (LUNA) — this year highlighted the importance of transparency around the true reserves held by crypto exchanges and businesses. Amid the ongoing fear, uncertainty and doubt (FUD) across the crypto space, crypto exchange Bitfinex revealed its proof of reserves to the general public.Over the past few days, major crypto exchanges, including Binance, OKX, Kucoin and....
OKCoin has passed a Proof of Solvency/Proof of Reserves audit conducted by Stefan Thomas. The audit was announced on Weibo yesterday. Fellow Chinese Bitcoin exchanges, Huobi and BTC China, are also expected to release similar announcements soon. Stefan Thomas previously conducted the same Proof of Solvency/Proof of Reserve audits for Bitfinex and Kraken. Similarly, Bitstamp was able to pass an independent test and prove their solvency to BitcoinJ developer Mike Hearn. OKCoin, along with many other industry-leading Bitcoin exchanges around the world, all now believe that providing Proof of....
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They’ve already gotten the police involved. As the fallout from the hack on its platform continues, KuCoin said it has identified suspects and have now officially involved law enforcement in the investigation. KuCoin CEO Johnny Lyu tweeted on Oct. 3 that the exchange now has substantial proof that identifies who hacked the service on Sept. 26. A quick update since my last livestream on Sep 30. After a thorough investigation, we have found the suspects of the 9.26 #KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take....
According to CEO Johnny Lyu, people using renewable energy sources for mining will receive discounts on fees. Seychelles-based crypto exchange KuCoin is launching a mining pool aimed at providing revenue to proof-of-work miners after integrating their rigs.In a Wednesday announcement, the exchange said its KuCoin Pool product would allow miners around the world to contribute to the Bitcoin (BTC) and Bitcoin Cash (BCH) and share rewards. At the moment, miners are required to install and run the necessary hardware themselves to join the pool, but KuCoin said it would introduce mining in the....