Wazirx exchange promised to provide audited evidence of its reserves – Bits Media

The Wazir Indian cryptocurrency exchange has announced its readiness to join the Binance initiative and conduct an audit of cryptocurrency reserves Proof of Reservations.

The Wazirx team told Twitter about hiring an independent company for an audit. The team assures customers, what All their funds are in full safety, And that she is ready to regularly provide Proof of Reserves public.

Update on Proof Of Reserve

WazirX will soon be sharing the Proof Of Reserves. Currently, the team is working with a third-party vendor and helping them with the audit. Rest assured, your funds are safe with us

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) December 9, 2022

The method of voluntary demonstration of the sufficiency of assets used by cryptocurrency exchanges to cover the balance of all their customers is designed to confirm the reliability of the trading platform. However, the connection of WAZIRX to the Proof of Reserve procedure has become a forced measure.

After the application of the founder of Binance Chanpen Zhao (Changpeng Zhao),
denying the possession of any shares of Zanmai Labs, Company, standing behind the Indian crypto -tank Wazirx, positions and confidence in the exchange were shaken.

Earlier, the public and regulators perceived Wazir as the "Indian daughter" of the largest cryptocurrency exchange of the world of Binance. Moreover, The Office for ensuring compliance with the laws of India presented a claim to Binance after freezing accounts, owned by WAZIRX, In connection with charges of laundering money.

The leadership of the Indian crypto -tank reported, that from April to September received 828 Requests from the police and other law enforcement officers. Of them 764 came from the Indian authorities, and the rest 64 - from foreign law enforcement agencies.