KuCoin Recognized as PoR Transparency Leader in CryptoQuant's Annual Exchange Leader Report 2025
KuCoin achieved the highest proof-of-reserves transparency score (96.7, A+) in CryptoQuant's 2025 Exchange Leader Report, praised for monthly Merkle-tree audits and third-party attestations.
CryptoQuant has released its Annual Exchange Leader Report 2025, evaluating major centralized exchanges across multiple dimensions including structural transparency, trading performance, reserves, and proof-of-reserves (PoR) standards. In this year’s assessment, KuCoin was named the leading exchange in PoR transparency, earning a score of 96.7 out of 100, which corresponds to an A+ grade.
The report measures transparency based on public wallet disclosure, user-level balance verification, reporting cadence, third-party attestations, and recency metrics. KuCoin achieved the highest structural transparency standards among all platforms evaluated, according to CryptoQuant’s findings.
Specifically, KuCoin combines public wallet disclosure with monthly Merkle-tree–based proof-of-reserves reports, user-side balance verification mechanisms, and independent third-party attestations. The exchange publishes its PoR reports monthly, verified by cybersecurity firm Hacken, with the most recent update dated February 6, 2026, alongside a corresponding attestation dated February 2026. KuCoin has now maintained more than 39 consecutive monthly reports and consistently discloses reserve ratios exceeding 100%.
Broader Trust Project
KuCoin’s PoR leadership aligns with its broader $2 billion Trust Project, an ongoing initiative focused on strengthening security systems, enhancing compliance frameworks, advancing risk controls, and reinforcing user asset protection standards across global markets.
BC Wong, CEO of KuCoin, commented: “Transparency and compliance are foundational to long-term trust in digital asset markets. Structural safeguards — including verifiable reserves, consistent reporting cadence, and third-party validation — are not optional; they are essential. Our $2B Trust Project reflects our commitment to building a resilient, security-first platform that meets the highest standards of disclosure and regulatory alignment.”
In addition to its PoR transparency leadership, the report also noted KuCoin’s strong growth momentum across spot and derivatives markets in 2025, reflecting structural development alongside continued investment in security and compliance infrastructure.
Source: KuCoin