<a href="https://www.cryptoknowmics.com/news/coindcx-twitter-account-hacked-and-fake-xrp-ads-promoted">CoinDCX</a>, the first unicorn cryptocurrency exchange in India, <a href="https://coindcx.com/blog/announcements/we-are-financially-sound/" target="_blank" rel="nofollow noopener">presented</a> a detailed <a href="https://www.cryptoknowmics.com/news/crypto-com-unveils-proof-of-reserves-data-giving-full-client-asset-back">Proof of Reserves (PoR)</a> today outlining its <a href="https://www.cryptoknowmics.com/news/world-cup-is-more-exciting-with-welcome-bonus-up-to-5000-usdt-from-coinplay">USDT</a> obligations and reserves. As of December 15, CoinDCX has liabilities in USDT of roughly US$155 million and total reserves in USDT of more than US$157 million.

https://twitter.com/CoinDCX/status/1604763784547291141
<h2>CoinDCX Launches Proof of Reserves</h2>
Today, CoinDCX published its complete proof of reserves along with an audited report as part of its ongoing efforts to make its proof of reserves public. This improved the confidence and transparency among its users.

In collaboration with Coingabbar, a <a href="https://www.cryptoknowmics.com/news/amber-group-acquires-300-million-via-fundraising">cryptocurrency</a> research company, the report provides both sides of its reserve balance, or assets and liabilities. Additionally, in accordance with the format established by the Institute of Chartered Accountants of India, the balance has been formally recognized by the statutory auditor, SGCO &amp;Co. LLP, Chartered Accountants.
<h2>Launch of On-Chain and Off-Chain Reserves</h2>
CoinDCX is in the midst of developing a live dashboard that will display its reserves and liabilities in real-time. CoinDCX intends to disclose its PoR on a quarterly basis.

In conjunction with Nansen, CoinDCX published its on-chain and off-chain asset balances along with its reserves-to-liability (R2L) ratio for the top 10 assets in November. In response to <a href="https://www.cryptoknowmics.com/news/cryptoquant-data-indicates-binance-isnt-displaying-ftx-like-behavior">FTX's</a> abrupt collapse, a number of cryptocurrency exchanges, including <a href="https://www.cryptoknowmics.com/news/binance-token-ends-loss-streak-fueled-by-crypto-exchange-concerns">Binance</a> and <a href="https://www.cryptoknowmics.com/news/indias-coinswitch-launches-platform-coinswitch-pro">CoinSwitch</a>, have made their PoR public to reassure users.

CoinDCX Launches Proof of Reserves With Legal Auditor's Certificate

CoinDCX, the first unicorn cryptocurrency exchange in India, presented a detailed Proof of Reserve (PoR) today outlining its USDT obligations and reserves.

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CoinDCX Launches Proof of Reserves With Legal Auditor's Certificate

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