CoinEx Updates Asset Reserve Ratio to Further Boost Platform Transparency and Fully Safeguard User Asset Security

News provided by

Jan 04, 2024, 03:01 ET

HONG KONG, Jan. 4, 2024 /PRNewswire/ -- Reiterating its dedication to transparency and security, CoinEx, a prominent crypto exchange, adjusted its asset reserve ratio on December 26, 2023. This update is designed to enhance user confidence and assurance in the protection of their funds on CoinEx.

Prioritizing user asset security, CoinEx underscores a commitment to uphold the highest security standards and instill confidence in the evolving crypto economy.

Full Data Transparency to Build Trust with Users

CoinEx utilizes Merkle Tree encryption for user assets and discloses the total assets of all users. Users can verify the inclusion of their account assets in the Merkle Tree, ensuring the validity of the data.

As per CoinEx's latest data, the reserve ratio for CET is 113.83%, and mainstream assets like USDT, USDC, BTC, and ETH all surpass 100%. This indicates that for every $1 deposited by users, CoinEx reserves at least an extra $1, ensuring ample funds to meet withdrawal demands and safeguard assets. CoinEx currently verifies reserves for CET, USDT, USDC, BTC, ETH, and DOGE.

Since 2023, CoinEx regularly updates Proof-of-Reserve data, ensuring transparency, credibility, and stability. This commitment secures user assets and enhances platform operation understanding. With a 100% reserve ratio maintained for six years since 2017, CoinEx fosters a safe and transparent trading environment.

New Upgrade on Asset Security System to Fully Protect User Assets

Regular Proof-of-Reserve updates highlight CoinEx's commitment to safeguarding user assets. Coupling verifiable reserves with strong technical protections and multi-layered security measures, CoinEx adheres to the highest standards. These extensive safeguards offer users peace of mind, even in times of increased volatility.

CoinEx consistently enhances its asset security by upgrading systems, developing offline storage, implementing multi-signature and multi-backup features, and establishing diverse security emergency response plans for comprehensive user asset protection.

CoinEx employs a hybrid strategy, balancing asset management convenience and security. They use a cold-hot wallet separation for user asset security. Dynamic measures like multi-location storage backup, multi-signature authorization, and regular device security checks are in place.

Meanwhile, CoinEx has improved the security level of the cold wallet system by adding its proprietary security warnings, automated monitoring, and physical isolation mechanisms, providing users with enhanced asset protection.

CoinEx has initiated the CoinEx Shield Fund, partnering with top security organizations to fortify its security infrastructure. Through extensive upgrades, regular Proof-of-Reserve data disclosures, and a steadfast commitment, CoinEx ensures comprehensive protection for user assets, fostering a secure and reliable trading environment for global crypto investors.

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to simplifying trading. The platform offers diverse services for over 5 million users across 200+ countries, including spot and margin trading, futures, swaps, AMM, and financial management. CoinEx prioritizes a "user-first" service principle, aiming to create an equitable, respectful, and secure crypto trading environment. By providing user-friendly products, CoinEx enables individuals of all experience levels to access the cryptocurrency world effortlessly.

SOURCE CoinEx Global Limited