Coinfloor is a custodian of client bitcoins and we believe that we must set the industry standard for transparency and regular audits. Without proper public accountability, the industry will not be able to grow and mature. This is why we are committed to releasing a Provable Solvency Report every month. Coinfloor is proud to have the longest standing track record among bitcoin exchanges in regards to auditing.
Today we are publishing our 35th monthly Provable Solvency Report with step-by-step validation instructions for your convenience.
As of today, Coinfloor holds a total of 9,233.9805 XBT on behalf of our clients. You are invited to verify that your held bitcoins are included in this balance by following the instructions below.
What does the Provable Solvency Report include?
We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a SHA-256 hash of this report.
We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoins, for a value of 9,245.7445 XBT and included in the output script the OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can verify the amount and details of the transaction in the block chain.
Key Pieces of information:
Provable Solvency Report #35 (February 28, 2017):
SHA-256 Hash of the Provable Solvency Report: 24ac5217a7648c9b717b110072fa795b3e48b0c0f072772dd34404b2c25a64ea
Transaction ID: 0b57be09e2ff03f4408e931b160230622966dcc515e7561e95f0035da053c0e
View the transaction here:
Your API authentication cookie:
You will find it in My Account > Dashboard in the Coinfloor signed in view, in the API section (visible only for fully verified accounts).
Instructions for Validating Solvency Report:
http://www.xorbin.com/tools/sha256-hash-calculator or to your SHA256sum calculating application.
your local SHA1sum application
We believe that this approach is the best way to achieve maximum accountability while retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on regular basis.
Thank you for your trust,