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Bitcoin.com

2022-12-02 04:30:05

Proof-of-Reserves Are at ‘Best Incomplete, at Worst Misleading and Deceptive’ Says Crypto Analyst Martin Hiesboeck

Proof-of-Reserves Are at ‘Best Incomplete, at Worst Misleading and Deceptive’ Says Crypto Analyst Martin Hiesboeck

While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not a suitable method of verifying an exchange’s reserves because they do not “account for

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