CoinEx, a leading cryptocurrency exchange, announced an update to its Asset Reserve Ratio on 15th November 2024 at 10:00 (UTC), reaffirming its commitment to transparency, security, and building trust within the crypto community.
By implementing the Merkle Tree structure, CoinEx enables users to verify their assets and confirm whether they are included in the Merkle Tree, ensuring the validity and security of the asset reserve data. This update provides users with a secure and transparent way to authenticate their holdings.
According to the latest data from CoinEx, the platform now maintains a 1:1 reserve ratio, with CET reaching 116.89%. The reserve ratios for major assets such as USDT, USDC, BTC, and ETH have all surpassed 100%. This means that for every $1 of assets deposited by users, CoinEx holds at least an additional $1 in reserves to ensure the platform can meet withdrawal demands. CoinEx currently verifies its reserves for CET, USDT, USDC, BTC, ETH, and DOGE. CoinEx has consistently maintained a 100% reserve ratio since 2017, prioritising user asset security. This update is a key milestone that demonstrates CoinEx’s dedication to safeguarding user funds and fostering a secure investment environment.
For further details on the updated Asset Reserve Ratio and the Merkle Tree structure, please visit here.
Comprehensive Security Measures for a Safer Experience
In addition to updating its Asset Reserve Ratio, CoinEx is continually enhancing its security infrastructure while upholding the "User First" principle. The CoinEx security team employs a range of advanced mechanisms to strike a balance between security and convenience, including multi-signature protocols, physical separation of systems, real-time monitoring, and automated alerts for both hot and cold wallets. To further strengthen the protection of user assets, CoinEx has established a Shield Fund, allocating 10% of trading fees to mitigate extreme risks. Additionally, CoinEx has partnered with leading blockchain security institutions to form a strategic alliance, assembling an elite security team to build a robust defense and ensure the platform is equipped with comprehensive protection.
About CoinEx
Established in 2017, CoinEx is a global cryptocurrency exchange committed to making crypto trading easier. The platform provides a range of services, including spot and futures trading, margin trading, swaps, automated market makers (AMM), and financial management services for over 10 million users across 200+ countries and regions. Since its establishment, CoinEx has steadfastly adhered to a "user-first" service principle. With the sincere intention of nurturing an equitable, respectful, and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.
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