Several leading auditing firms have suddenly ceased providing crypto auditing services, leaving exchanges in the lurch.
As the FTX collapse highlighted the need for more transparency from centralized crypto exchanges, working with auditors has been the move by top crypto trading platforms to assure users that their assets are fine. However, two of the most prominent auditors have suddenly dropped their crypto auditing services, leaving exchanges hanging at a very crucial time.shows that its section, called Mazars Veritas, which is dedicated to crypto audits is now offline.
Speaking to Cointelegraph, a spokesperson from Binance noted that due to the FTX incident, people have been searching for more assurances that other exchanges won’t collapse. They explained that: “It was FTX’s failure to ensure exchange assets were greater than its liabilities to customers that caused its insolvency. So, naturally, people want multiple ways of verifying this won’t happen again.”
The firm said that at the moment, they have reached out to other accounting firms, including the Big Four and will work to provide other technical solutions.
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