I have to say I appreciate that they are getting a third party audit.

Dear KuCoin Users,

As the People’s Exchange, the safety and security of users’ funds are our top priority. As part of our dedication to transparency and to strengthen trust in the industry, we are taking the following actions:

1) As we have announced before, we are working on the Merkle-tree proof-of-reserves. The third-party auditor Armanino LLP , a leading audit firm requires about one month to complete the audit and we will publish the proof in early December.

2) We are immediately sharing details of our hot and cold wallet addresses. From day 1 of building KuCoin, we have been transparent to our users, and we are committed to continue with full transparency.

Here, see an overview of our hot and cold wallet addresses and their current holdings:

BTC ( 20,504 BTC)

ETH ( 180, 299 ETH)

USDT ( 1,075,909,241 USDT)

USDC ( 365,722,839 USDC)

KCS (69,601,075 KCS)

The snapshot was taken on 11/11/2022 at 7:00 UTC and does not represent all our holdings. Only major tokens on BTC, ETH, TRX , KCC, ALGO, ABR, OPT ,EOS are included. The full report of our audit will give even greater detail. In addition, we are staking 29,696 ETH as the Ethereum PoS node, and each node has 32 ETH on the address. Due to the excessive number of node addresses, we will not disclose them one by one here.