HONG
KONG, June 24, 2024 /CNW/ -- 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.
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SOURCE CoinEx Global Limited