WazirX releases proof of reserves with majority of funds in Binance wallets

The cryptocurrency exchange released its proof of reserves and proclaimed it to be India’s largest exchange both in volume and reserve funds.

According to the data, WazirX has roughly $285 million in total user assets held in Tether (USDT). 90% of user assets on WazirX are held in Binance-based wallets, with the remaining 10% stored in both hot and cold storage wallets. This amounts to roughly $256.5 million and $28.5 million, respectively.