Post
Topic
Board Trading Discussion
Re: Are exchanges evading proof of reserves unsafe for users?
by
Wiwo
on 02/08/2023, 21:20:02 UTC
The big question is,  how reserved is the poof of reserved?

Because just as we have fake trading volume or bot trading in exchange same way exchange can still manipulate the proof of reserves,  and of what use will a proof of reserve be if the exchange declare bankruptcy just like what FTC did in 2022.

The bottom line is never to trust an exchange and does not allow your balance on the exchange to exceed the amount you want to trade with to avoid losing all your money trusting using an exchange as your personal wallet.

Always make sure to keep your funds off the exchange,  even though the displayed proof of Reserved find (POR).