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Proof of Reserves Audit

Independent on-chain proof of assets’ true collateralization to increase transparency.

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What is Proof of Reserves

Raise the bar in transparency for Crypto Exchanges

Proof of Reserves is an independent audit conducted by Hacken which aims to ensure that on-chain holding of cryptocurrencies by exchanges matches up with users’ balances.

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  • Build trust
    in the market

    As a self-regulating measure, Proof of Reserves is appealing to regulators and aligns with their overarching vision for the industry.

  • Improve product adoption

    Boost product adoption by addressing the lack of trust caused by exchanges not holding enough assets to cover customer deposits.

  • Empower your customers

    With a Merkle tree hashing method, you give users the power to verify Proof of Reserves audit transparency on their own.

Proof of Reserves audit is essential

  • Proves that on-chain funds are sufficient to cover customer liabilities.
  • Shows good faith by using self-regulating measures amid market chaos.
  • Meets the growing demand for assurance over digital asset reserves.

PoR Audit Milestones

Proof of Reserves audit can be completed in 2-3 weeks:

  • 1

    NDA

  • 2

    Scope Estimation & Quoting

  • 3

    Agreement

  • 4

    Proving Customer Account Balance Liabilities

  • 5

    Formation of the Merkle Tree & Verifier

  • 6

    Verifying Assets Classes and Ownership

  • 7

    Proof of Reserves Evaluation

  • 8

    Audit Report

  • 9

    Certification & Promotional Activities

Reach our team to employ a Proof of Reserves audit

Benefits of Proof of Reserves by Hacken

  • Experience

    In cooperation with CER.live we’ve been developing and improving Proof of Reserve methodology since 2019.

  • Confidentiality

    We provide the highest level of general and internal confidentiality of the exchange database.

  • Security

    All data is secured and stored safely by an ISO 27001:2013 certified tier-1 Web3 cybersecurity auditor.

  • Trust

    Hacken is trusted by leading cryptocurrency exchanges, blockchain organizations and major Web3 projects.

  • Care

    You'll work with a dedicated team and customer success manager who will help with implementation to improve data security and compliance in your company.

  • Promotion

    Successful Proof of Reserves audit with Hacken increases the Trust Score of your exchange on CER.live & CoinGecko.

  • Changpeng Zhao logo

    Changpeng Zhao

    Co-founder and CEO of Binance

    All crypto exchanges should do merkle-tree proof-of-reserves. Binance will start to do proof-of-reserves soon. Full transparency.

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    Dyma Budorin

    Co-Founder and CEO Hacken

    As the trend on Proof of Reserves audit is only at the beginning, you can be one step ahead from other exchanges and complete it one of the first with a help of Hacken.

  • Kostiantyn Oleshko logo

    Kostiantyn Oleshko

    Product Owner at CER

    Our team plans to update the Methodology by adding new metrics such as SOC-2 audit & Proof of Reserves.

Why Hacken?

  • 5

    Years of Expertise

  • 180+

    Partners

  • 1070+

    Clients

  • 50+

    Crypto Exchanges

  • 17%

    Clients from CMC TOP-300

  • 88+

    Team Members

Security Vendor & Partner for leading Web 3.0 players

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Hacken is a member of top industry organizations

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Get Independent Merkle-tree Proof of Reserves Audit

FAQ

  • What is Proof of Reserves?

    A Proof of Reserves (PoR) is an independent audit conducted by a third party which seeks to ensure that on-chain assets of Crypto Exchange match to deposits of its clients. This auditor takes an anonymized snapshot of all balances held and aggregates them into a hash tree — a privacy-friendly data structure that encapsulates all client balances.

  • What projects need a PoR audit?

    Proof of Reserves is soon to become a standard for custodians, exchanges, lenders and stablecoin issuers. Its goal is to ensure that these platforms do not engage in secretive financial transactions that put their customers’ funds at risk.

  • Can I conduct a Proof of Reserves audit myself?

    Technically, yes. All the instruments are out there for you to run a PoR audit yourself. However, for the industry to thrive, customers need to trust that protocols and institutions truly hold the assets they claim. And that’s why Proof of Reserves audits by trusted third-party with proven methodology are more credible.

  • ​​How long does a Proof of Reserves audit take?

    On average Proof of Reserves audit can be completed in 2-3 weeks if all sources promptly respond to first requests for information.

  • Why should I trust Hacken?

    Hacken is the market leader in cybersecurity and together with CER we have been working on Proof of Reserves methodology since 2019.

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