First, verify Then trust
All customer assets held on our platform are fully backed (1:1), safely stored and available for redemption at your convenience.
Actions, Not words
The world’s continued transition to cryptocurrency requires a foundation built on trust. That’s why compliance, security, and privacy have been our core focus since day one.
As the industry leader in regulatory compliance, security and privacy certifications and trusted by more than 100 million users worldwide, we are more committed than ever to setting the highest standard for our industry.
What is Proof of Reserves?
Proof of Reserves (PoR) is a way to ensure that a platform holds enough assets to cover all of its client balances. PoR is conducted and certified by an independent auditor to ensure the integrity and the anonymity of the entire process. This auditor is able to identify and certify all balances held by the exchange’s clients and aggregate them into what is called a Merkle Tree.
What is a Merkle Tree?
A Merkle Tree is an anonymized proof of client balances, allowing anyone to cryptographically verify that the exchange holds their funds and that their account balances are included in the PoR. The Merkle Tree is created and maintained by the independent auditor.
How to verify your funds
Crypto.com’s PoR verification page makes it easy for you to ensure that your funds are safely held 1:1 in reserve by Crypto.com. This video explains how to verify your funds in just a few clicks.
Still have questions?
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How to verify your funds
Crypto.com’s PoR verification page makes it easy for you to ensure that your funds are safely held 1:1 in reserve by Crypto.com. This video explains how to verify your funds in just a few clicks.
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Still have questions?
Who is conducting Crypto.com’s PoR?
The verification was conducted by Mazars Group, a leading international audit, tax and advisory firm employing more than 44,000 professionals in more than 90 countries. This independent third-party verification report performed under ISRS 4400 as set forth by the International Auditing and Assurance Standards Board (IAASB) used advanced cryptographic procedures to confirm the availability and backing of our customer balances. They are responsible for corroborating that we have ownership of assets we claim to control on behalf of our clients, as well as ensuring we have the amount of in-scope assets for corresponding client funds. Last but not least, this independent third-party utilises Merkle Trees allowing you to verify that your account balances were indeed included in the PoR.
Which tokens are included in the verification?
Mazars Group compared the assets held in on-chain addresses proven to be controlled by Crypto.com with customer balances through an auditor-overseen live query of a production database as of December 7, 2022, 00:00:00 UTC. The results of reserve ratio of verified assets were as follows:
Does the verification cover all tokens, protocols and networks supported?
Not all tokens or chains are supported by the tools Mazars Group utilised in the verification at this moment. We are working with Mazars Group to include additional tokens, protocols and networks, including Cronos (CRO) and VeChain (VET), in the subsequent verifications.
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Before you:(a) pay Foris DAX Asia Pte. Ltd. any money or DPT; or(b) pay a third party any money or DPT under an arrangement by Foris DAX Asia Pte. Ltd.,
you should be aware of the following.
- Foris DAX Asia Pte. Ltd. is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to Foris DAX Asia Pte. Ltd. or any other third party referred to above, if Foris DAX Asia Pte. Ltd’s or the third party’s business fails.1A. You should be aware that MAS does not supervise or regulate Foris DAX Asia Pte. Ltd. for the provision of unregulated services . This includes any service of trading digital payment token derivatives such as futures.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Foris DAX Asia Pte. Ltd.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that Foris DAX Asia Pte. Ltd., as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
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