Global audit leader Mazars has released KuCoin’s Proof-of-Reserves (PoR) verification report, confirming that the exchange’s reserves for BTC, ETH, USDT, and USDC exceed customer liabilities. The analysis revealed collateralization ratios of 101% for BTC, 100% for ETH, 102% for USDT, and 101% for USDC, demonstrating strong financial safeguards.
Key Findings from Mazars’ Audit
- Reserve Verification: Conducted on November 26, covering KuCoin’s holdings across multiple blockchains, including Bitcoin, Ethereum, Tron, and Arbitrum.
- Account Inclusion: Audited assets spanned customer accounts (main, margin, futures, staking, etc.) to ensure comprehensive coverage.
- Transparency Tools: KuCoin’s Proof-of-Reserves website enables users to independently verify assets via Merkle Tree validation.
👉 Explore KuCoin’s Proof-of-Reserves Dashboard
KuCoin’s Commitment to Transparency
Johnny Lyu, KuCoin CEO, emphasized the exchange’s dedication to trust and transparency:
"As a people’s exchange, we prioritize user confidence. Partnering with Mazars reflects our pledge to industry-wide accountability. We’ll continue innovating to serve our community better."
About KuCoin
Founded in 2017, KuCoin is a top-tier cryptocurrency exchange operating in 207 countries, offering:
- 700+ digital assets for spot, margin, and futures trading.
- Services like staking, lending, and P2P fiat trading for 27 million users.
- Recognition as a Forbes 2021 Best Crypto Exchange and Best Crypto App by The Ascent (2022).
👉 Discover KuCoin’s Full Features
FAQ Section
Q1: What does 'overcollateralized' mean in the PoR report?
A1: It ensures KuCoin holds more reserves (e.g., 102% for USDT) than customer liabilities, safeguarding against liquidity shortages.
Q2: How can users verify their assets?
A2: Use KuCoin’s PoR website to check Merkle Tree proofs for personal holdings.
Q3: Which blockchains were audited?
A3: Bitcoin, Ethereum, Tron, Algorand, EOS, Arbitrum, and KuCoin Community Chain.
Q4: Why partner with Mazars?
A4: Mazars’ independent verification enhances credibility, aligning with KuCoin’s transparency goals.
Q5: What’s KuCoin’s global reach?
A5: Serving 27 million users across 207 countries with 700+ supported cryptocurrencies.
Q6: How does KuCoin rank among exchanges?
A6: Top 5 by trading volume (CoinMarketCap) with a $10 billion valuation post-$170 million funding rounds.
For more details, read the full Mazars report.
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