The companies partner with leading crypto exchanges such as Binance, KuCoin, Crypto.com, Gate.io, OKX and FTX.
While the collapse of FTX highlighted the need for greater transparency from centralized crypto exchanges, the move by major crypto trading platforms to reassure users that their assets are safe was to work with auditors. good condition. However, two of the most well-known auditors suddenly shut down their crypto auditing services, leaving the exchange suspended at a very crucial time.
At the moment, the official website of French auditing firm Mazars Group states that its section called Mazars Veritas dedicated to crypto audits is now offline. The company has partnered with several of the leading crypto exchanges, including Binance, KuCoin, and Crypto.com.
While there was no official announcement from Mazars at the time of writing, Binance has confirmed that the accounting firm has indicated that it is temporarily suspending work with all of its crypto clients globally.
Speaking to Cointelegraph, a Binance spokesperson noted that because of the FTX incident, people were looking for more reassurances that other exchanges would not collapse. They explained that:
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“It was FTX’s failure to ensure that its stock market assets exceeded its debt to customers that caused its bankruptcy. So of course people want multiple ways to verify that this isn’t going to happen again. .
The company said it is currently in contact with other accounting firms, including the Big Four, and will work to provide other technical solutions.
Related: Silvergate is facing a class action lawsuit over the relationship between FTX and Alameda
Meanwhile, auditing firm Armanino has also reportedly suspended its crypto auditing services. The company has partnered with several crypto trading platforms such as OKX, Gate.io and the struggling FTX exchange. Citing unnamed sources, Forbes reported that the company may face pressure from non-crypto customers after being named in a class action lawsuit for failing to identify issues in FTX.
The auditing firm launched its crypto audit services in 2014 and offers services such as proof of reserve audits and stablecoin certification, services that are currently in high demand as the collapse of FTX has prompted users to become more cautious towards centralized crypto trading platforms be.
