Toobit Confirms 100%+ Asset Backing in Latest Hacken Proof of Reserves Report

Toobit, the Cayman Islands-based cryptocurrency derivatives exchange, announced on May 6, 2026, that its latest Proof of Reserves (PoR) report has been independently verified by blockchain security firm Hacken. The report confirms that the exchange maintains a collateral ratio exceeding 100% across all major digital assets, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC).

The independent audit verified that each trader deposit is backed by at least a 1:1 ratio of reserves, with a surplus ensuring all customer liabilities are over-collateralized. Hacken’s verification process also validated the individual balances of over 640,000 accounts by cross-referencing internal data against legal documentation and official statements from third-party institutional custodians.

Three-Stage Audit Methodology

Hacken employed a multi-stage approach to ensure accuracy and transparency. The first stage, Proof of Liabilities, verified the total balances of more than 600,000 liability holders to accurately reflect client deposits. In the second stage, Asset Verification, auditors compared the total reserve balances against the client liability report to confirm full coverage. The final stage included Operational Oversight, where Hacken reviewed information flow and custodial reporting to ensure all data remained authentic and unaltered.

Live Transparency Portal

Alongside the audit report, Toobit launched an upgraded Proof of Reserves page that moves beyond static reporting to a dynamic transparency model. The portal allows traders to monitor live reserve ratios for major tokens and access historical audit data. Central to this dashboard is the integration of Merkle tree technology, which consolidates all trader balances into a single, secure Merkle root hash. This cryptographic proof enables individuals to verify that their specific account balance was included in the audit without compromising privacy.

The full audit report is available for public review on Hacken’s official website, including detailed documentation on scope, methodology, and technical findings.

Industry Context

The announcement comes as cryptocurrency exchanges face increasing pressure to demonstrate financial stability. Industry leaders now maintain reserve coverage ratios typically between 124% and 125%, well above the 100% safety benchmark. With regulatory frameworks such as MiCA intensifying oversight, exchanges are increasingly adopting “compliance by design” approaches, integrating Proof of Reserves and transparent disclosures into their core operations.