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No more proof-of-reserve checks? Auditors quietly drop crypto projects from portfolios

Published 12/16/2022, 08:22 AM
Updated 12/18/2022, 10:00 AM

As the FTX collapse highlighted the need for more transparency from centralized crypto exchanges, working with auditors has been the move by top crypto trading platforms to assure users that their assets are fine. However, two of the most prominent auditors have suddenly dropped their crypto auditing services, leaving exchanges hanging at a very crucial time.

At the moment, the official website of the French auditing firm Mazars Group shows that its section, called Mazars Veritas, which is dedicated to crypto audits is now offline. The firm worked with several of the most prominent crypto exchanges including Binance, KuCoin and Crypto.com.

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