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Unocoin’s Proof of Reserves Audit – June 2023

Proof of reserves disclosure-01 (4)

Proof of reserves disclosure-01 (4)

Proof of Reserves (PoR) is a concept that ensures transparency and trust in the management of user assets by cryptocurrency exchanges. When we talk about Proof of Reserves, we specifically mean assets held in blockchain-based hot and warm wallets, and in cold storage for Unocoin users. In simple words, this means that Unocoin is providing verifiable evidence and proof that it has sufficient funds to cover all user assets 1:1.

For example, when a user deposits one bitcoin into their Unocoin account, the Unocoin reserves held on behalf of its users will increase by one bitcoin, and that user would see his wallet balance going up by one bitcoin. This PoR report guarantees that all such user’s balances exist in the crypto wallets of Unocoin and that all such balances are fully covered.

In general, this means that Unocoin holds all user assets at a 1:1 ratio, along with additional reserves if any, ensuring the safety and availability of user funds. This is the same as saying even if all users withdraw all their crypto and INR balances today, Unocoin has reserves to support all of them without any dependency on any third party that is liable to pay Unocoin.

The contract described in the information below was performed by an independent auditing firm who in turn has used external technical expertise to verify the authenticity of claims by Unocoin. They performed the agreed procedures and arrived at the stated findings and results ensuring an objective assessment of the relevant information.

The findings are as per below:

The report provided is made public through this link. Below is the last page of the report showing the Findings and Results:

Unocoin’s Proof of Reserves

At Unocoin, our commitment to our community remains unwavering. Transparency, security, and protection of our user’s interests are our priorities.

 

In our attempt to promote transparency, we are disclosing the below blockchain addresses that belong to our cold storage and these should cover more than 90% of our reserves.

Coins and address as part of audit:

BTC: 1PSh1go1ZBvULhGV4BsekEaVAAESa2fNWp

ETH: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

XRP: rJ4yRC4C4SvejVC2uuNTd8zzrckGaxBZkG

MATIC: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

LTC: M7wzMMiad7NpqvCM82mHt7MKP8DmNgkGB9

USDT: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

FUN: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

SHIB: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

BCH: 1QEA3Em5zB9HnLLApvtwQ6sS6BhqXCcSti

BTG: AWuiZo4fDYnYWFS8dYfGVkgUMWn6n9nQdu and GWrRosYyxu5iKRmweFi7ZQEipDK13ZYuv6

FTM:0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

LINK: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

BAT: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

UNI:0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

ZIL: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

GALA: 0x6CC38B3F8cbF2b78996801D1B8D5FA441c33270d

Edit trials:

On 23rd June 2023, for BTC, replace 1PSh1go1ZBvULhGV4BsekEaVAAESa2fNWp with 1JMXdyMbi2R4EKn8DQNZEEDzZBWPmsaXSR

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