Binance Bitcoin Proof Of Reserves Audit Report Out Now

Binance, the world’s largest cryptocurrency exchange recently revealed the crucial details of its hot and cold wallet addresses in order to ensure the users. The exchange also promised to share the Merkle Tree of funds ahead. However, the crypto exchange has fulfilled its promise and issued the first audit report.

What does Binance PoR Report say?

In a Tweet, Binance mentioned that as part of its user fund transparency work and Proof of Reserve, they are working with the Mazars, a global financial audit firm. It mentioned that BTC proof of Reserves is out now. However, it added that the reports for other tokens will be out soon.

The report stated that Binance underwent a Proof of Reserves and Proof of Liabilities verification on November 22, 2022. The auditing firms observed that the crypto exchange controlled scope assets in excess of 100% of their cumulative platform liabilities.

Binance’s Bitcoin net customer balance stands at 575742.4228.

Duplication of ID’s?

The auditing firm stated that it compared the total mentioned balance of each blockchain in scope asset. However, they were unable to find any variances greater than 1%.

The firm inspected the Customer Liabilit Report for any duplications of user ID’s. They found that the user ID’d were hashed and truncated to 16 bytes. However, no duplication of user Id’s were found.

TAGS
Binance

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.