Crypto.com released its audited Proof of Reserves, which allows users to verify that their cryptocurrency assets are secured on the platform.
The verification was carried out by the Mazars Group, an international firm focused on audit, tax and advisory that employs more than 44,000 professionals in more than 90 countries. This independently audited third-party report performed under ISRS 4,400 as established by the International Auditing and Assurance Standards Board (IAASB) used advanced cryptographic procedures to confirm the availability and support of balances. of customers.
Mazars Group compared assets held at on-chain addresses demonstrably controlled by Crypto.com against customer balances via an auditor-supervised live inquiry of a production database on December 7, 2022. The results of the reserve ratio of the main assets were as follows:
Kris Marszalek, CEO of Crypto.com, highlighted that: “it is now easy to verify that Crypto.com has a 1:1 reserve of all customer crypto assets deposited on the platform, and users can confirm that the assets in their account are responsibly backed and accessible by the Crypto.com App and Crypto.com Exchange“.
“This effort is an extension of our commitment to set the highest standard of transparency and accountability. Providing audited proof of reserve is an important step for the entire industry to increase transparency and begin the process of restoring trust“Kris said, adding:”Crypto.com is fully committed to providing customers around the world with a secure and compliant means of interacting with digital currencies.”.
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