UPbit Proof of Reserves Shows 100% Collateralization as of April 1, 2024

IconCrypto News Terminal26 Apr, 2024

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UPbit Proof of Reserves Shows 100% Collateralization as of April 1, 2024

South Korean cryptocurrency exchange UPbit released its Proof of Reserves on April 1, 2024, showing a 102.82% coverage for digital assets and 103.15% for deposits, as reported by Samil PwC. This independent audit examined 194 digital assets, deposits, cash, and cash equivalents. This move towards transparency assures customers that their funds are secure. Previously on April 1, 2024, UPbit released its Proof of Reserves revealing over-collateralization for both digital assets and deposits.