Bybit United Arab Emirates

Bybit's 13th Proof of Reserves Report Highlights Strong Asset Backing Verified by Hacken Audit

in August as part of a monthly audit. These third-party auditors attested to Bybit's commitment to transparency and security, setting a high standard for the industry.

Commitment to Industry Transparency

"Our latest PoR report is a testament to Bybit's unwavering dedication to transparency and customer trust," said Joan Han, Sales & Marketing Director of Bybit. "By regularly publishing these reports and having our public wallets tracked in real time by Nansen, we provide our clients with real-time assurances about their assets and contribute to a broader culture of openness in the crypto industry. We aim to lead by example and encourage others in the sector to prioritize transparency."

Independent auditors Hacken praised the integrity of Bybit's Proof-of-Reserve in their August audit. "During the meticulous Proof of Reserves process, Bybit has successfully proved that its holdings provide full coverage for user liabilities, maintaining a remarkable 1:1 ratio for all in-scope assets. This assurance is substantiated by the compelling findings outlined."

Bybit has advocated for industry-wide transparency, actively participating in discussions and initiatives aimed at enhancing trust and accountability in the cryptocurrency space.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.

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