Colin Wu Responds to Binance’s POR Audit Notification

On his Twitter account, Wu Blockchain, Chinese Reporter Colin Wu responded to Binance’s statement that it has been collecting funds from client wallets for the “next part of our [their] POR audit.”

Wu said on Twitter that the word “audit” is being used incorrectly when the exchange is performing POR verification:


Related: CoinList addresses “FUD” regarding withdrawals and attributes delays to technical problems.

It is significant to highlight that when Binance and other exchanges conduct POR verification, the term “audit” is misleading. The AUP engagement involves the audit company Mazars; nonetheless, “an agreed-upon procedures engagement is not an audit.”
Colin Wu responds to Binance’s POR audit notification, which was first published on Coin Edition.


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