Bybit Enhances Trust and Security with Expanded Proof-of-Reserve Audit

Bybit crypto exchange enhances trust and security by expanding its proof-of-reserve audit to cover 40 tokens, each backed by 150% reserves. This industry-leading move ensures transparency and reinforces the exchange's strong reputation, as evidenced by a 10/10 trust score from CoinGecko and an 'AA' rating from CCData.

Bybit Expands Proof-of-Reserve Audit to Enhance Trust and Security

Bybit, a leading cryptocurrency exchange, has taken a significant step in bolstering its credibility and ensuring the safety of its users' assets. The company has expanded its proof-of-reserve audit to encompass 40 tokens, an unprecedented move in the industry.

This move serves as a testament to Bybit's unwavering commitment to transparency and security. Each of the audited tokens, including recently added ones such as WLD, AGI, and BEAM, is backed by reserves that exceed 150%. This provides users with unparalleled confidence in the solvency and reliability of Bybit.

Bybit's commitment to transparency is further evidenced by its remarkable achievement of a perfect 10/10 trust score from CoinGecko. Additionally, the exchange received an "AA" rating in the latest CCData Crypto Exchange Benchmark Report, further solidifying its reputation as a trusted and reliable platform.

"Reserve Verification is the cornerstone of building a strong reputation," remarked Ben Zhou, CEO of Bybit. "By providing our users with irrefutable proof of our reserves, we not only ensure the safety of their investments but also reinforce our unwavering commitment to excellence."

Bybit employs a robust and multi-layered wallet system that consists of cold, warm, and hot wallets. This architecture guarantees both the security of assets and ample liquidity for seamless trading. The exchange has also established strategic partnerships with custodians such as Fireblocks and Copper, reinforcing the robustness of its security measures.

Bybit's comprehensive approach to exchange solutions distinguishes it as a leader in the industry. The platform provides a secure and transparent trading environment for both individual and institutional clients. This latest expansion of the proof-of-reserve audit further underscores Bybit's dedication to cultivating trust and ensuring the protection of its users' digital assets.