Monday, July 15, 2024

CoinEx Enhances Transparency and Protect User Asset Security with Updated Asset Reserve Ratio

HONG KONG, June 24, 2024 /PRNewswire/ — CoinEx, a leading crypto exchange, announced the update of its Asset Reserve Ratio on 24th June 2024 15:00 (UTC+8). This advancement underlines CoinEx’s commitment to enhancing transparency, security, and trust within the cryptocurrency community.

Through the deployment of the Merkle Tree structure, this procedure allows every user to verify their assets whether included in the Merkle Tree, to authenticate the data’s validity for secure verification of asset reserves. The latest data published by CoinEx, shows it holds a 1:1 reserve ratio. CET reached 113.31%, while the reserve ratios for mainstream assets such as USDT, USDC, BTC, and ETH have all exceeded 100%. This means for every $1 of assets deposited by users, CoinEx reserves at least an additional $1 to ensure the platform has sufficient funds to meet user withdrawal demands. Currently, CoinEx proves its reserve of CET, USDT, USDC, BTC, ETH, and DOGE. CoinEx always prioritises user asset security and has maintained a 100% reserve ratio for the past seven years since 2017. The update is an essential metric that reflects CoinEx’s dedication to ensuring user funds’ safety and maintaining a healthy investing environment.

For more information on the updated Asset Reserve Ratio and the Merkle Tree structure, please visit here.

All-rounded Security Measures for a Safer Experience 
Aside from updating Asset Reserve Ratio, CoinEx is actively constructing its security system, and upholds the "User First" principle. The CoinEx security team uses a variety of advanced mechanisms to balance convenience and security in hot and cold wallets, including multi-signature protocols, physical separation of systems, real-time monitoring, and automated alerts. CoinEx also established a Shield Fund which dedicates 10% trading fees to further securing the integrity of user assets against extreme risks. CoinEx has collaborated with top blockchain security institutions to form a strategic security partnership in order to assemble a top-tier security team and build a solid fortress, equipping the platform with comprehensive security. 

About CoinEx

CoinEx was founded in 2017, and upholds the mission to leverage the transformative power of blockchain technology, guided by "user first" brand ethos. CoinEx boasts a selection of trading options for BTC, stablecoins, and 1,000+ cryptocurrencies. The platform ensures rapid and stable performance across 200+ countries, alongside seamless deposit and withdrawal processes. CoinEx is dedicated to providing a gateway to the cryptocurrency world with multi-language support for global users.

 

Source : CoinEx Enhances Transparency and Protect User Asset Security with Updated Asset Reserve Ratio

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