Proof-of-Reserves Go Live on CoinGabbar for Transparent Exchanges

CoinGabbar Integrates Proof-of-Reserve for SunCrypto

After successfully integrating blockchain data for the Proof-of-Reserve reports of CoinDCX, CoinGabbar is proud to announce that we have integrated Proof-of-Reserve reports for SunCrypto, a leading cryptocurrency exchange in India. 

Transparency and trust are the two core pillars on which a centralized crypto exchange lays its foundation. However, the recent market conditions have terribly impacted both aspects and shaken the crypto industry to the core. At this time when the FUD in the markets is soaring, there is a dire need for transparency in the operations of exchanges to incite the required trust in their community. 

To achieve this, leading crypto exchanges are coming forward and making their reserves public. Along the lines of these scenarios, SunCrypto, a leading crypto exchange in India has come forward with CoinGabbar to release its Proof-of-Reserve reports. CoinGabbar has worked diligently with team SunCrypto to integrate their blockchain and make their proof-of-reserves public on our platform. You can go through the entire proof-of-reserves of SunCrypto by clicking here. 

Umesh, CEO of  SunCrypto made the official declaration by sharing the POR and Proof-of-Liabilities reports via his Twitter handle. Umesh also shared the audit certificate with the statutory auditor as Proof of Reserve and users' liabilities. He also thanked CA Sourabh Agrawal, Co-Founder, CoinGabbar, for all the support and efforts of Team CoinGabbar in making it possible for SunCrypto to release their POR. You can read more about the release in this blog. 

SunCrypto’s POR ensures that they are financially sound and all the investor funds stored in the exchange are 100% secure. SunCrypto has 1:1 assets backed with zero fractional reserve operations, making it India’s second crypto exchange to make all of its holdings 100% transparent, the first being CoinDCX.

This release came right after CoinGabbar released proof-of-reserves for CoinDCX to make all of their holdings public to their customers. All the holdings of both CoinDCX and SunCrypto are live exclusively on CoinGabbar and can be viewed using an easy-to-navigate dashboard. CoinGabbar ensured that all the reports published on our platform are 100% transparent and without any bias, we have all the wallet addresses of the exchanges that have the funds as depicted in the released reports. 

After successfully releasing the POR of the leading crypto exchanges, CoinGabbar becomes the first crypto research portal in the world that is working towards providing the ultimate transparency in exchange operations. We at CoinGabbar aim to assure customers that their funds are safe with their exchanges. We are constantly working towards building trust amongst the users and regaining their faith in the crypto industry by enabling the exchanges to make the POR possible. 

With this, CoinGabbar has become the only research portal in the country to integrate the blockchain for centralized exchanges and make them live on our platform. CoinGabbar is becoming the industry standard for trust and reliability by offering 100% unbiased and transparent reports of exchanges to the crypto community. We are building the world’s leading cryptocurrency information and research portal on the foundations of transparency and trust.

CoinGabbar proudly announces our collaborative efforts with CoinDCX and SunCrypto in releasing their Proof-of-Reserves live on our platform.