Unocoin, an Indian crypto trading exchange, has announced the completion of its Proof-of-Reserves (PoR) verification process.
According to an official release, the verification process was performed by an auditing firm. Reportedly, the auditing firm obtained a list of crypto custody service providers and wallet addresses, accessing them through web logins and public blockchain explorers.
Sources suggest that results of the PoR verification are total value of customer holdings amount to Rs 1,83,67,91,329, including VDA worth approximately Rs 1,76,04,24,094 based on CoinMarketCap rates and INR holdings value of Rs 7, 63, 67,235, Unocoin holdings on behalf of customers exceed Unocoin’s customer holdings, each VDA held by Unocoin has a higher value than the corresponding customer’s held value of that particular VDA, approximately 98.85% of the BTC that Unocoin holds on behalf of its customers is stored in cold storage, and total aggregated VDA in cold storage amounts to 93.78%.