Bybit Says $17.3B Proof of Reserves Covers 50 Assets, but the Audit Has Limits

TL;DR: Bybit says the latest snapshot of its proof-of-reserves system covered $17.3 billion in customer assets across 50 cryptocurrencies. The exchange's November 3 announcement describes its 41st report, with figures independently checked by security firm Hacken against an October 27 snapshot. Bybit says the latest snapshot of its proof-of-reserves system covered $17.3 billion in customer assets across 50 cryptocurrencies. The exchange's November 3 announcement describes its 41st report, with figures independently checked by security firm Hacken against an October 27 snapshot. The exercise offers a view of assets and customer balances at a specific moment, but it should not be mistaken for an all-purpose guarantee that an exchange could meet every liability under every scenario.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to NewsBTC.