Tapbit Partners with Hacken for Security Audits

Cryptocurrency derivatives exchange Tapbit has partnered with blockchain security auditor Hacken to strengthen its security framework through independent validation. The collaboration includes third-party audits, penetration testing, and smart contract assessments, complementing Tapbit’s existing internal safeguards such as wallet segregation and real-time monitoring.

The move reflects a broader industry trend toward externally verified security measures. As part of the partnership, Hacken has already completed a Proof of Reserves (PoR) audit for Tapbit, confirming reserve ratios well above 100% for Bitcoin and Ethereum. According to the snapshot dated October 31, 2024, Tapbit’s BTC reserve ratio stood at 2,341% and its ETH reserve ratio at 2,431%, indicating that user balances are fully backed.

Milton Cogo, CEO of Tapbit, said the partnership represents a commitment to building long-term trust through verifiable standards. He noted that user confidence is increasingly shaped by independent validation rather than self-reported claims. “Security can no longer be treated as a secondary function… it must be embedded as a foundational layer,” Cogo added.

The PoR verification process includes cryptographic wallet ownership confirmation and transaction-level checks, with results made available through transparent reporting. Tapbit said it aims to align its operational standards with tightening global regulatory expectations by demonstrating robust, independently validated security measures.

Tapbit, established in 2021, offers crypto derivatives, spot, and copy trading services across more than 190 regions. The Hacken engagement is intended to help the platform identify vulnerabilities proactively and maintain operational integrity as market conditions grow more complex.