You can now independently verify that the bitcoin and ether balances you hold on Kraken are backed by real assets secured by our global exchange.
That’s because today we’re releasing the results of our most recent Audit of proof of reservesan advanced crypto accounting procedure that we aim to conduct semi-annually in the coming years with the help of one of the world’s most trusted accounting firms, Armanino LLP.
At Kraken, your safety and security is our top priority, and our regular proof of reserves audits will ensure that we meet and exceed expectations for accountability and transparency.
Indeed, during this audit, completed on December 31, our auditor determined that Kraken controlled all customer-owned bitcoin and ether on our exchange, as well as all bitcoin and ether held on our market-leading online and off-chain. sector. staking services.
But we need your help to ensure that our reserve proof audits have maximum impact. After all, we can only give you the tools to check your balances – we need you to check them.
To check your balance:
- Login to your Kraken account
- follow this simple 3-step process to generate a ‘Record ID’ or ‘Merkle Leaf’ specific to your Kraken account and this audit.
- Enter this “Registration ID” on the site of our trusted auditorArmanino.
By following the process above, you will be able to assert that your bitcoin and ether were securely held by Kraken at the time of the audit.
If you are unable to produce a “Registration ID” or “Merkle Sheet”, don’t worry. This means that you had no bitcoin or ether balance on Kraken at the time of our audit. Rest assured that you will be able to verify your account balances during future audits. We are also working to increase the number of assets that will be covered in future proof of reserves audits.
Looking ahead, we encourage all customers to check the results of our audit and, if you encounter any issues with our new tools, to contact our 24/7 support team to share comments.
If you want to learn more about Proof of Reserves and the revolutionary ways it leverages the transparency of public blockchains, we invite you to read more on our website.
We look forward to continuing to lead the industry in transparency and setting an unparalleled example in traditional finance.