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Problem is that exchanges are getting caught fudging their "proof-of-reserve" reports. Crypto.com just got called out for "accidentally" sending $400M to a riva
by thr0wawayf00 4y ago
Problem is that exchanges are getting caught fudging their "proof-of-reserve" reports. Crypto.com just got called out for "accidentally" sending $400M to a rival exchange that used the balance to prop up their reserve reports. It's becoming a joke at this point.
https://www.benzinga.com/fintech/22/11/29692377/crypto-com-responds-to-customers-doubts-over-accidental-400-million-eth-transfer https://www.benzinga.com/fintech/22/11/29692377/crypto-com-r...
- bmmayer1 4y agoYes and no. That's why third party auditors exist. It's not like you're just asking people to trust your bank balance screenshots.