Singapore, January 7th, 2024 – Bitunix, the fastest-growing crypto derivatives exchange, has released its latest Proof of Reserves audit, confirming its commitment to transparency and user trust. The updated audit reveals reserve rates significantly exceeding the required 1:1 ratio, providing strong assurance to platform users.
Bitunix ensures that every user’s assets are fully backed on the platform with a 1:1 reserve ratio or higher. The latest reserve rates, as audited on December 24, 2024, at 16:42 UTC, are as follows:
- BTC Reserve Rate: 241%
- ETH Reserve Rate: 159%
- USDT Reserve Rate: 130%
These figures demonstrate that Bitunix holds substantially more assets than its users have deposited. This ensures not only complete liquidity but also the platform’s ability to handle high volumes of withdrawals even during volatile market conditions.
Bitunix uses snapshots during each audit to capture a clear record of its reserves at a specific point in time. These snapshots generate a Merkle root hash, which allows users to verify that their funds are included in the reserves without revealing sensitive data.
Through Bitunix’s easy-to-use verification tools and open-source software, users can independently confirm their assets are fully backed. This system ensures transparency, security, and trust while maintaining privacy.
Bitunix updates its Proof of Reserves monthly, ensuring continuous accountability. In a market where mismanagement of client funds has led to insolvencies in other exchanges, as highlighted by Blockworks, Bitunix’s proactive audits and regular updates set a new standard for trustworthiness and reliability. This is why, according to these types of platforms that audit and rate the levels of trust and security of the exchange, PoR ratios are rated as healthy.
The security and transparency of user funds are key aspects of Bitunix. During 2024, the exchange secured agreements with two leading blockchain security firms, Hacken and Salus Security, to perform reserve audits and penetration tests.
About Bitunix
Bitunix is a global cryptocurrency derivatives exchange founded in 2021 and is committed to offering simple, secure, transparent, and cost-effective trading services to its users. Bitunix specializes in both spot trading and perpetual futures, with over 300 trading pairs and leverage of up to 125x.
With features such as top-tier liquidity, 24/7 customer support, and a strong commitment to regulatory compliance, Bitunix remains at the forefront of providing a reliable trading experience for the global crypto community. Bitunix has attracted more than 1,000,000 users from over 100 countries, facilitating a daily trading volume exceeding $1 billion on its platform.