The recently published Binance POR has been taken down from the internet, and the accounting firm Mazars Group has stopped performing proof-of-reserves (POR) audits for cryptocurrency exchanges. Following the FTX collapse last month, Mazars was conducting a number of POR audits for cryptocurrency exchanges like Binance, Crypto.com, and Kucoin.
Binance, Mazars Group Pause Crypto Company Audits POR Removed from the Internet
The accounting firm Mazars Group reportedly stopped performing POR audits for cryptocurrency exchanges on December 16, 2022, according to reports. According to a spokesperson for Binance who spoke to CNBC on Friday, “Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, including Crypto.com, Kucoin, and Binance.” “This means that we will not be able to work with Mazars for the time being,” the spokesperson continued.
The news comes after Jesse Powell of Kraken recently criticised the Binance POR audited by Mazars on December 8 and on November 25. The POR of Binance has been in the news for a while, and the company has had to deal with a lot of speculation, rumours, and FUD. Additionally, Binance saw a significant
Although Mazars does not perform POR audits for cryptocurrency exchanges, the company appears to have taken Binance’s POR offline for the time being. When someone tries to access the Mazars-published Binance audit, the page now states that the “server cannot be located”. The audit from Crypto.com is still available online as of this writing and has not been taken down.
Also still accessible online is the Mazars POR audit prepared for the cryptocurrency exchange Kucoin. The POR audits conducted by Crypto.com and Kucoin differ from Binance’s POR audit in that the documents for these two companies are hosted on their own websites. The Mazars website served as the sole host for the Binance audit, which was finished on November 22, 2022, at Bitcoin block height 764,327. Mazars Group has not addressed the issue or provided an explanation for why it stopped performing POR audits for cryptocurrency companies as of the time of writing.