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Results of public audit of XMR reserves (MoneroRun)

All Cryptocurrencies

by COINS NEWS 49 Views

Thanks to everyone who participated to this public audit (during the last days or months). Thank you to everyone who has been adamant, persistent in the last period and finally today (April 18th UTC) you have all your XMR coins in your wallets and decided to celebrate Monero's tenth birthday this way.

Almost all exchanges seem to be up and running right now and it is possible to get real XMR coins from them. There seems to be enough coins in the market to cover the withdrawals now.

Over the past year, it looks like the following exchanges have been trouble-free (from XMR's point of view):

  • Kraken
  • Bitfinex
  • WhiteBit

In the last period, especially these exchanges had problems with XMR withdrawals (for more than 24 hours):

  • CoinEx (duration: few days)
  • KuCoin (duration: few days)
  • HTX (duration: half a year)
  • PoloniEx (duration: half a year)
  • WazirX (duration: forever)

It is true that some exchanges officially pay out XMR, but they have not had various other coins for many months (or years) and customers are desperate, for example HitBTC with DOGE or TradeOgre with KAS. Today it's problems with some dog coin and tomorrow it could be XMR. So you better avoid them (or to be very careful). Also, watch out for exchanges that don't like public audits, don't actively promote NYKNYC, don't credit the deposit immediately (but it takes several days) and their subreddit is full of withdrawal complaints - such as Gate.

  • ???? TradeOgre
  • ???? HitBTC
  • Gate

What can be said about instant exchanges? Most of them are only connected to the veins of some CEX and do not have their own coins. So if CEX is causing problems, these are immediately transferred to the customer. It should be taken into account and worship instant exchanges that have their own coin stocks, such as:

  • eXch
  • BitcoinVN

Many exchanges are delisting Monero. How does it always turn out? Customers have trouble getting their XMR coins and most of them give up. See what happened at Waves, Bittrex, Newton ... Let's take now a closer look at Binance delisting: On February 20, it announced delisting and subsequently closed XMR withdrawals, these are opened only occasionally (although it was promised that they would work without problems until May 20).

Based on these observations, it can be assumed that most services have fractional reserves (unless proven otherwise). The big Binance itself claims in its proof of reserves that it holds all reserves of only about 30 coins (but it has more than 300 coins on offer).

submitted by /u/MoneroFox
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