CoinSwitch Releases Proof of Reserves
CoinSwitch, has released its proof of reserves, revealing that the total value of user assets held as of January 6, 2023 is approximately 1,083.45 crores. The amounts held in the wallets total approximately 933.83 crores.
This comes just weeks after Binance, the world’s largest cryptocurrency exchange, revealed its proof of reserves in November. Along with a complete list of wallet addresses, the PoR includes an asset and liability balance for both the on-chain and off-chain.
According to reports, 85% of cryptocurrency assets are held in custody wallets, while 15% are held on exchanges. It claims to work with several exchanges, including CoinDCX, WazirX, Binance, and CoinSwitchX.
(Reporting by Shikha Singh; Editing by Kapil Rajyaguru)
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