Indian crypto exchange WazirXIndia has released it's proof of reserves report revealing the details of its reserves in proportion to its user funds. By amitoj.
Indian crypto exchange WazirX released its proof of reserves report and with that disclosed that 90% of its user assets are held in Binance wallets.WazirX's proof of reserves. At the time of writing, WazirX had $285 million of total user assets, displayed in the form of stablecoin USDT, which is pegged to the U.S. dollar. Of the total user assets, around 92% or $259.07 million was held in Binance wallets, with $26.45 million being held in other exchanges.
"90% of user assets are held in wallets at Binance, and the balance of 10% is stored in hot and warm wallets," WazirX added.
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