Toobit, a leading global cryptocurrency exchange, has released its latest Proof of Reserves report. The report was verified by the independent cybersecurity firm, Hacken, confirming its accuracy.
Over 100% Collateral Ratio
Hacken’s review shows the exchange has enough collateral – over 100% – to cover its digital assets, including Bitcoin, Ethereum, Tether, and USD Coin.
The audit shows that for every deposit a trader makes, there are enough funds available to cover it, with a one-to-one ratio or better. It also confirms that we have extra funds in reserve, meaning all trader debts are fully covered by collateral.
The verification process also confirmed the balances of over 640,000 accounts. This involved carefully comparing internal records with legal documents and official statements from banks and other institutions to ensure everything was completely accurate.
Report Mechanics
Hacken ensured complete transparency by using a three-step process. First, they conducted a ‘Proof of Liabilities’ – essentially verifying the balances held by over 600,000 users to confirm that client deposits were accurately reported.
The next step involved confirming the client’s assets. Auditors checked if the total reserves were sufficient to cover all client liabilities. Finally, the process included a review of how information was handled and reported by the custodian, ensuring its accuracy and that no changes had been made.
Following the recent audit, Toobit has released a new and improved Proof of Reserves page. This page offers real-time updates on token reserves, letting traders easily monitor the platform’s financial health. It also provides access to past audit information through a simple, easy-to-use interface, moving away from just providing reports at a single point in time.
Merkle Tree Technology
This platform relies heavily on Merkle Tree technology. It combines all trader balances into one secure ‘root hash,’ allowing anyone to easily and confidently verify that their individual balance was included in the audit, ensuring transparency and preventing fraud.
This secure system proves transactions are valid and trustworthy, but keeps traders’ information private.
The complete audit report is publicly accessible. You can find detailed information about what was audited, how it was done, and the technical results on the official Hacken website.
As a crypto investor, I’m seeing a big shift in the market. Exchanges are growing up, and a lot of that is thanks to more and more independent verification happening. It feels like things are becoming more trustworthy and stable, which is a good sign for the long term.
Top companies in the field consistently hold reserves well above the 100% safety standard, typically between 124% and 125%. With increasing oversight from regulations like MiCA, maintaining stable operations now means building compliance into systems from the start, including regularly proving they have sufficient reserves and being fully transparent about their finances.
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2026-05-07 12:38