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Namaste tribe! 🙏
At WazirX, we have always valued transparency and trust. As we work to rebuild and relaunch the platform, it’s important to us to work on further increasing the trust and transparency you’ve come to expect from us.
We are working on onboarding new custodians and will update the PoR accordingly. We will make sure to communicate with you about new custodians. We try to find a custodial provider that can offer insurance for the funds so that the loss is minimized even in the worst case scenarios. While security is paramount, in this dynamic and new world of crypto, insurance will begin to play a more important role in custody services.
We have implemented Proof of Reserves for you. You can now easily confirm wallet addresses and review asset balances.
Our Proof of Reserves is now live on our website – Click here
We have published Proof of Reserves (PoR) on WazirX website based on a snapshot taken on 24 October 2024. Understanding the value of third-party verification, we also work with CoinGabbar, a popular third-party platform, to provide a dynamically updated PoR. This dual approach strengthens trust and transparency by offering both in-house and third-party PoR.
This makes us the only exchange in India to have a dual PoR panel – an internal PoR panel and a third-party dynamic PoR panel. We are working to set new industry standards when it comes to transparency.
We will continue to update and keep you informed every step of the way.
WazirX has always focused on his tribe and will continue to do the same. We are a mission-driven team on a mission to engage everyone in the crypto revolution.
Thank you for your continued support and patience.
Disclaimer: Cryptocurrency is not legal tender and is currently unregulated. Please ensure that you carry out a sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information presented in this section does not represent any investment advice or the official position of WazirX. WazirX reserves the right, at its sole discretion, to modify or amend this blog post at any time and for any reason without prior notice.
