audit | ForkLog

ForkLog 54 20.05.2025

Hoskinson to Audit Cardano Foundation Amid $600 Million ADA Misappropriation Allegations

The Cardano Foundation is set to release an audit report on the state of its treasury following allegations of misappropriating $600 million in ADA. NFT artist Masato Alexander claimed that Cardano blockchain platform founder Charles Hoskinson used a genesis key to alter the ledger and transfer 318 million ADA during the Allegra hard fork in […]

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ForkLog 29 02.05.2025

Movement Labs Co-Founder Suspended Amid MOVE Token Controversy

Movement Labs co-founder Rushi Manche has been suspended amidst an investigation into a deal with a market maker that led to the dumping of 66 million MOVE tokens. We confirm that Rushi Manche has been suspended from Movement Labs. This decision was made in light of ongoing events and as the third-party review is still […]

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ForkLog 38 22.03.2025

Tether Seeks Big Four Firm for Reserve Audit

Tether, the issuer of the USDT stablecoin, plans to hire one of the Big Four auditing firms to verify its reserves. This was reported by Reuters, citing the company’s head, Paolo Ardoino. The firms in question are the world’s largest providers of audit and consulting services: Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. According to […]

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ForkLog 33 04.03.2025

Tether Promises ‘Full Audit’ with New CFO Appointment

The company behind the USDT stablecoin, Tether, announced that the appointment of Simon McWilliams as CFO marks a significant step towards conducting a full financial audit. According to the press release, the issuer previously published quarterly attestations of reserves in collaboration with BDO. However, a full audit will provide additional assurance of financial integrity and […]

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ForkLog 25 13.09.2024

Tether Faces Criticism Over Lack of Reserve Audit, Drawing Comparisons to FTX

The consumer advocacy group Consumers’ Research has released a report accusing Tether of lacking transparency regarding its US dollar reserves. The group claims that the issuer of USDT, despite numerous promises, has yet to conduct a full independent audit of the stablecoin’s backing. The report draws parallels with the situation that led to the collapse […]

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ForkLog 11 09.09.2024

Binance Confirms Surplus Asset Reserves

The cryptocurrency exchange Binance has released its latest audit Proof-of-Reserves, confirming a surplus in client fund reserves. As of September 1, the trading platform held 647,106 BTC and 4,651,360 ETH. User deposits in leading cryptocurrencies amounted to 605,690 BTC and 4,486,359 ETH. Coverage reached 106.84% and 103.68% respectively. Source: Binance. In the stablecoin USDT, the […]

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ForkLog 7 19.09.2023

Ethereum developers unveil new security standard for smart contracts

Developers proposed the ERC-7512 standard aimed at increasing the security of Ethereum smart contracts through intra-network verification of their audits.

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ForkLog 9 22.03.2023

US Senators Urge Crackdown on ‘Fake Audits’ of Crypto Firms

Senators Elizabeth Warren and Ron Wyden urged authorities to act against 'fake audits' of crypto firms. The matter is outlined in a letter from the politicians.

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ForkLog 5 09.02.2023

Tether posts $700m in net profit for Q4

The issuer of the USDT stablecoin, Tether Limited, posted net profit of $700m for October–December, according to the updated attestation report.

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ForkLog 7 30.12.2022

Expert ranks Bitcoin exchanges by Proof-of-Reserves quality

Kraken and BitMEX headlined the Proof-of-Reserves (PoR) ranking, while Binance finished last due to incomplete coverage. The conclusions were reached by Nic Carter, a general partner at Castle Island Ventures.

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ForkLog 5 23.12.2022

SEC urges investors not to trust Bitcoin-exchange audits

Investors should "be very careful" about audits of cryptocurrency exchange reserves. This view was expressed by acting SEC Chief Accountant Paul Munter in an interview with The Wall Street Journal.

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ForkLog 7 21.12.2022

Bitstamp US Chief Calls Proof-of-Reserves Key to Restoring Trust in Exchanges

The Proof-of-Reserves (PoR) procedure can restore retail investors' trust in trading platforms. In an interview with The Block, Bitstamp US chief Bobby Zagotta said.

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