Indodax Performs Proof Of Reserve As Proof Of Platform Security

JAKARTA - The marketbearish phase in 2022 which caused several large crypto exchanges in the world to go bankrupt. The big crypto exchange bankruptcy, namely FTX last year, has attracted the attention of crypto investors, including the CEO of Indodax, Oscar Darmawan.

As a candidate for local Physical Crypto Asset Traders (CPFAK) who was first established in Indonesia, Indodax always prioritizes the safety of member assets and the convenience of members for transactions.

motivated by this, Indodax finally decided to conduct aproof of Reserve (PoR) audit and Company Liquidity Adequacy Calculation.

"At the beginning of this year, we collaborated with the well-known Kreston Indonesia auditor KAP Hendrawinnata Hanny Erwin & Sumargo to conduct this audit. This is a form of consistency and our proof to Indodax customers that Indodax is a trusted crypto exchange and we are crypto exchanges that have good liquidity," Oscar explained in a statement received by VOI in Jakarta, on Saturday, May 13.

With the results of this official audit, Oscar as an industry player hopes that the crypto exchangeorocal registered with other CoFTRA can also conduct an audit to ensure liquidity owned by the company.

"I am sure that if the crypto exchange has conducted an audit and announced the results of the audit, domestic crypto investors will increasingly believe and choose to transact crypto exchangeocles whose security is clear in terms of legality by the government or in terms of liquidity they have. Trust and transparency are very important things in the crypto industry," Oscar added.

Not only that, but the roof of ReserveIndodax can also be accessed freely by anyone at CoinMarketCap and has been verified.

"Indodax is the only crypto exchangelocal that has provided an open address tagging, a verified address CoinMarketCap, and conducted an audit in collaboration with the Public Accounting Office," Oscar concluded.

Previously, Tokocrypto had also accurately audited the roof of Reserves, as a testament to its commitment to the security and transparency of users in the midst of the rapid development of crypto assets.