{"id":15547,"date":"2022-12-16T16:23:37","date_gmt":"2022-12-16T16:23:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/accounting-firm-mazars-stops-proof-of-reserve-audits-for-crypto-firms-binance-audit-removed-from-the-web-bitcoin-news\/"},"modified":"2022-12-16T16:23:37","modified_gmt":"2022-12-16T16:23:37","slug":"accounting-firm-mazars-stops-proof-of-reserve-audits-for-crypto-firms-binance-audit-removed-from-the-web-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/accounting-firm-mazars-stops-proof-of-reserve-audits-for-crypto-firms-binance-audit-removed-from-the-web-bitcoin-news\/","title":{"rendered":"Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following the FTX collapse last month. <\/strong><\/p>\n

Mazars Group Pauses Crypto Company Audits, Binance POR Scrubbed From the Web<\/h2>\n

Reports detailed on Dec. 16, 2022, that the accounting firm Mazars Group<\/a> has paused doing POR audits for cryptocurrency exchanges. On Friday, a Binance spokesperson told<\/a> CNBC that \u201cMazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, Kucoin, and Binance.\u201d The spokesperson added that \u201cthis means that we will not be able to work with Mazars for the moment.\u201d<\/p>\n

The news follows the recent criticism<\/a> from Kraken\u2019s Jesse Powell<\/a> on Nov. 25, and when he denounced<\/a> the Binance POR audited by Mazars on Dec. 8. Binance\u2019s POR has been in the spotlight for quite some time and the company has been dealing<\/a> with lots of speculation, rumors, and FUD. Furthermore, Binance experienced<\/a> a significant amount of withdrawals on Dec. 13, as more than $3 billion in funds were withdrawn from the exchange.<\/p>\n

While Mazars is not doing POR audits for crypto exchanges, for now, the company has seemingly removed Binance\u2019s POR from the internet. The page now says the \u201cserver cannot be located\u201d when someone attempts to visit the Mazars-published Binance audit. At the time of writing, Crypto.com\u2019s audit<\/a> is still on the web and has not been removed.<\/p>\n

The Mazars POR audit<\/a> drafted for the crypto exchange Kucoin is still live on the web as well. The difference between Crypto.com\u2019s and Kucoin\u2019s POR audits, compared to Binance\u2019s POR audit, is that Crypto.com\u2019s and Kucoin\u2019s documents are hosted on their own websites. The Binance audit, completed on Nov. 22, 2022, at Bitcoin block height 764,327, was hosted solely on the Mazars website. At the time of writing, Mazars Group has not commented on the situation or explained why it stopped doing POR audits for crypto firms.<\/p>\n

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audits<\/a>, Binance<\/a>, Binance Audit<\/a>, Binance Exchange<\/a>, Binance Reserves<\/a>, Bitcoin<\/a>, crypto assets<\/a>, crypto companies<\/a>, Crypto.com<\/a>, FUD<\/a>, Jesse Powell<\/a>, Kraken Exec<\/a>, KuCoin<\/a>, Mazars<\/a>, Mazars Group<\/a>, Mazars published Binance audit<\/a>, PoR<\/a>, Proof of Reserves<\/a>, rumors<\/a>, Speculation<\/a>, Withdrawals<\/a><\/div>\n<\/div>\n

What do you think about Mazars not doing audits for crypto companies and seemingly removing Binance\u2019s recent POR audit from the internet? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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