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Cryptocurrency exchange KuCoin has completed its latest Proof of Reserves audit, marking the 32nd consecutive month of publishing reports that demonstrate full coverage of user liabilities.
The audit, conducted by blockchain security firm Hacken, found that KuCoin's holdings exceed all user liabilities across in-scope assets, maintaining reserve ratios greater than 1:1 for major cryptocurrencies as of 30 June 2025.
According to data published on KuCoin's Proof of Reserves page, the exchange maintains reserve ratios of 110% for Bitcoin, 110% for Ethereum, 114% for Tether (USDT), and 112% for USD Coin (USDC).
The Victoria, Seychelles-based exchange, founded in 2017, claims a global user base exceeding 41 million. The audit covered assets across more than 30 blockchain networks, including Ethereum, Solana, TON, and zkSync.
Hacken's evaluation included Proof of Liabilities, Proof of Ownership, Reserves Calculation, and a comprehensive Proof of Reserves Assessment. The audit firm used industry-standard methodologies including custom digital signatures, "send-to-self" transactions, and anonymised liability snapshots to verify KuCoin's control of listed wallets.
BC Wong, CEO, KuCoin
"At KuCoin, we believe transparency is the foundation of trust in the crypto ecosystem," said BC Wong, CEO of KuCoin. "This audit not only validates our dedication to safeguarding user assets but also reflects our broader vision of building a secure and inclusive platform for all. We will continue to prioritise transparency and security as we work toward empowering our users and advancing global digital asset adoption. Asset audits represent a vital starting point for industry self-regulation — a necessary step toward building user confidence and supporting the long-term, sustainable development of the crypto space."
The exchange operates as part of what it describes as a $2 billion Trust Project, an initiative aimed at strengthening security and transparency across the platform. KuCoin provides digital asset solutions spanning wallets, trading, wealth management, payments, research, ventures, and AI-powered trading bots.
Proof of Reserves audits have become increasingly common among cryptocurrency exchanges following the collapse of FTX in November 2022, which revealed significant shortfalls in customer funds. The practice involves third-party verification that exchanges hold sufficient assets to meet customer withdrawal demands.
KuCoin has received recognition including "Best Crypto Apps & Exchanges" by Forbes and was named among the "Top 50 Global Unicorns" by Hurun in 2024. The exchange invites users to verify on-chain data directly through tools available on its Proof of Reserves page.
