KuCoin

KuCoin

SeychellesFounded 2017kucoin.com ↗

Last reviewed 2026-09-21 · Methodology v1.0

Centralized Exchange

VIF Score ⓘVIF Score — Verifelse Independent Verification score. A deterministic 0–100 measure of how independently verifiable an exchange is.

68.6B-

#5

of 10
VIF rankings

Reported Reserves

$2.17B

Publicly Verifiable

Liabilities

Externally Verified

Merkle inclusion only

Proof Age

27 days

Aging · Monthly cadence

Verification

Hacken

Merkle · Independent verifier

Transparency Snapshot

Strong public verifiability

KuCoin publishes cryptographic Proof of Reserves, users can verify inclusion, reserve ownership evidence is available.

Primary limitation: Users can verify inclusion, but the Merkle proof does not establish aggregate liabilities.

Reserve Coverage

111%

Reported total reserve rate

Assets ≥ in-scope balances

Exchange-published figure, not independently recomputed by Verifelse (as of 2026-08-31). Source ↗

Reserve coverage reflects only assets within the scope of the published proof, and does not by itself establish solvency.

Reserve Asset Composition

USDT48.9%$1.06B
BTC32.5%$0.71B
ETH14.2%$0.31B
USDC4.4%$0.10B
Total$2.17B

Proof of Reserves

Cryptographic (Merkle / zk)✓ Active programProves liabilities

>100% reserve ratios sustained across BTC, ETH, USDT, USDC; 39+ consecutive monthly reports. Named a PoR transparency leader in CryptoQuant's 2025 Exchange Leader Report.

MethodologyMerkle tree Proof of Reserves with Proof of Liabilities, Proof of Ownership and reserves calculation, independently audited
Auditor / VerifierHacken
CadenceMonthly
Snapshot as of2026-08-31
Official proofkucoin.com ↗

Proof & Verification Artifacts

Verification matrix

Proof type
CryptographicAttestationFinancial statementsNone
Proof of Liabilities
LPORGlobal ZKMerkle-sumMerkle-inclusionAuditor-onlyNone
Wallet disclosure
FullPartialNone
Inclusion check
FullPartialNone
Verification tool
Open-source verifierInclusion self-checkNone
Third-party assurance
Financial auditAttestationAgreed-upon proceduresNone

Options are ordered strongest to weakest; the highlighted option reflects the proof method Verifelse recognizes for KuCoin. This describes the method, not a solvency guarantee.

VIF Score Breakdown

Top-10 VIF median
Asset Verification70 / 100
Top-10 median: 67.5
Liability Verification45 / 100
Top-10 median: 50
Proof Freshness75 / 100
Top-10 median: 65
Public Verifiability75 / 100
Top-10 median: 68.5
Methodology Transparency95 / 100
Top-10 median: 95
Incident Disclosure78.8 / 100
Top-10 median: 77.4

Third-Party Verification

External verifierHacken
Third-party assuranceAgreed-upon procedures

Related Incidents

Mazars PoR verification discontinuedMonitoring

Dec 2022 · No reserve loss established · Reserve and verification

Multi-asset hot-wallet breachResolved

Sep 2020 · ~$285M reported · Security breach

View all incidents →

Expert Commentary

No expert commentary currently indexed for KuCoin.

This does not imply expert consensus or endorsement.