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Zoomex details security upgrades and proof of reserves framework
Zoomex published an overview of its asset security measures, stating that over 95% of user reserves are stored in cold wallets and that withdrawals require multi-party authorization, with additional details on compliance and monitoring available on its 'Proof of Reserves' page.
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According to information published by Zoomex, the company maintains a 1:1 reserve policy by fully backing user deposits with corresponding assets, with more than 95% of reserves stored in offline cold wallets. Withdrawals are subject to multi-party authorization processes, mitigating single points of failure. Additional measures detailed on Zoomex's 'Proof of Reserves' page include regular independent security audits by Hacken, real-time risk monitoring of platform activities, and licensing or registration with regulatory bodies in the US, Canada, Australia, St. Lucia, and Mwali. The platform states that it operates without debt and has set up an emergency fund to address extreme scenarios.
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Zoomex is a cryptocurrency exchange established in 2021 offering both web and mobile trading platforms for derivatives and spot trading. Key features include high liquidity, leverage up to 1:150, a built-in copy trading service, and the availability of both centralized and decentralized exchange options. More details about the platform can be found in the broker profile on Traders Union.
For context, the previous Zoomex update introduced new binary event contracts on the Predict World platform, allowing users to trade on major macro and geopolitical outcomes with transparent rules and live market data. Read the earlier news about Zoomex for more details.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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