The CEO of MaskEX, Eric Yang, attests to the exchange's openness, is set to reveal its holdings, and disavows any exposure to FTX and FTT.

The fourth-largest cryptocurrency exchange in the world, FTX, crashed in a stunningly quick spiral in just a few days. FTX and numerous of its connected firms have filed for bankruptcy, and its CEO and leader, crypto millionaire and figurehead Sam Bankman-Fried, also known in the industry as SBF, has now resigned.

In light of recent events, it is important that businesses in the crypto industry address their customers and make everyone feel safe. This unexpected fall has sparked concerns about the viability of FTX and the larger crypto business, as well as the possibility of a domino effect that could disrupt more established financial markets. How crucial is security to the cryptocurrency sector? How does the reputable crypto business operate and what is the approach taken by one of the most private and secure cryptocurrency trading platforms and wallets in the world to protect the assets of its users? - Entrepreneur provides an interview with the CEO of MaskEX, Eric Yang, who has explained the position of MaskEX, as a centralized exchange, following the collapse of FTX and FTT.

At the inception of MaskEX, we were aware of how sensitive the crypto industry is, and that is why we created the company based on security and privacy. And we still uphold these standards.

First, it is important to say that MaskEX is not just a centralized exchange but also a trusted and secure crypto wallet. We place a high value on users’ security, including the security of your funds. Therefore MaskEX would never do anything to jeopardize our customers’ assets.

It is important for all parties to know that MaskEX ensures that all transactions conducted via the MaskEX website and app are secure and reliable in all circumstances. In addition, the safety of users' funds across all markets is assured on the exchange.

MASKEX GLOBAL is a cryptocurrency wallet and trading platform. The platform was founded on the principle of user security and privacy, and now offers a secure wallet and platform with multiple features and services. MaskEX Global holds an MSB (Money Services Business) financial license in Canada, an SVG (St. Vincent & the Grenadines) financial license in Russia, and is on its way to cop a VARA (Virtual Assets Regulatory Authority) license for trading in Dubai.

After several months of uninterrupted service, the MaskEX staff continues to work toward the common objective of "Your Wallet, Your Way" - assisting all MaskEX users in achieving financial autonomy and anonymity. We make it a daily priority to uphold these responsibilities to the organization and to all of our customers who have put their faith in MaskEX.

Proof of Reserves, SAFU & FUD

Since FTX's collapse, cryptocurrency platforms have had mounting demand to reveal their asset holdings. This is to increase transparency and allay concerns about current market liquidity challenges.

MaskEX isn’t left out. So to put our customers’ minds at rest and for utmost transparency, MaskEX will provide PoR (Proof of Reserves) by Nansen very soon.

Nansen is a blockchain analytics firm that uses the transparency of Bitcoin and other cryptocurrency blockchains to provide a Proof of Reserves as one of its services.  A "proof of reserves" is essentially a snapshot of how many reserves a custodian has at any given time. Its accuracy is supported by cryptographic proof. In simpler terms, it's a way to demonstrate that exchanges or other third-party custodians actually have their users' money.

The Auditing and Compliance team is working on our Proof of Reserves (PoR) with Nansen, and MaskEX anticipates that we will be listed on Nansen shortly.

The seasoned technical team has always been prepared to respond as quickly as possible to unanticipated attack situations. MaskEX will always secure the Asset Fund for Users (SAFU) and prevent users from experiencing fear, uncertainty, and doubt (FUD).

Furthermore, MaskEX has a policy of not investing in high-risk projects or advertising indiscriminately to ensure financial integrity. Also, MaskEX does not provide fixed high-yield commodities with unknown income sources.

Transparency and the security of assets for the community of millions of investors are always our number one concern.

We appreciate and value all our customers. And we don’t take for granted the trust our investors have in MaskEX. We assure all parties that MaskEX has not and will not take any steps that will put your assets at risk. We hope to continue to serve you and provide you with the utmost security and privacy.

Best regards,

Eric Yang,

CEO, MaskEX.