Is Tapbit Safe? Strengthening Security and Transparency Through Hacken Audits
Tapbit Official3 min read·Just now--
To enhance its platform security and transparency, Tapbit has established a strategic partnership with the globally recognized blockchain security auditor Hacken.
Hacken specializes in blockchain cybersecurity, providing comprehensive audit services, penetration testing, and smart contract evaluations. With experience collaborating with leading Web3 protocols, exchanges, and decentralized applications, Hacken has become a key force in advancing industry-wide security standards through independent verification and continuous risk assessment.
Through this partnership, Tapbit integrates third-party auditing into its overall security framework, complementing internal safeguards such as wallet segregation, real-time monitoring systems, and structured risk controls. This approach reflects a broader industry trend where exchanges increasingly rely on externally validated security models to enhance transparency and accountability.
At Tapbit, security is an ongoing operational standard that requires continuous testing and validation. By collaborating with Hacken, the platform strengthens its ability to proactively identify potential vulnerabilities while maintaining operational integrity in complex market environments.
Milton Cogo, CEO of Tapbit, emphasized that this collaboration represents a commitment to long-term trust built on verifiable standards. He noted that as the digital asset industry matures, user confidence relies less on self-reported claims and more on independent validation. According to Cogo, integrating external cybersecurity expertise is essential to meeting institutional-level expectations.
He further stressed that security must be a foundational layer embedded throughout the platform, from infrastructure design to user asset protection. Partnerships with specialized firms like Hacken provide an additional assurance layer, reinforcing platform stability while promoting a more transparent operating environment.
This collaboration also aligns Tapbit’s practices with increasingly stringent global regulatory requirements. As exchanges face heightened scrutiny from both users and regulators, independently validated security measures are becoming a critical factor for sustainable platform growth.
Proof of Reserves: Data-Backed Transparency and Asset Verification
In addition to security audits, Tapbit has implemented a Proof of Reserves (PoR) framework independently audited by Hacken. The latest audit confirms that Tapbit maintains a reserve ratio exceeding 100% across in-scope assets, ensuring that all user balances are fully backed and immediately available for withdrawal.
According to the most recent verification snapshot:
- BTC Reserve Ratio: 2,341%
- ETH Reserve Ratio: 2,431%
- Asset Coverage: Bitcoin (BTC) and Ethereum (ETH)
- Audit Date: October 31, 2024
These figures indicate that Tapbit’s reserves far exceed user liabilities, reflecting a conservative approach to asset management that enhances solvency and resilience.
The PoR process leverages cryptographic validation, including wallet ownership verification through digital signatures and transaction-level checks. Asset balances are cross-checked using structured data comparison to ensure accuracy and completeness. Users can independently verify assets through transparent reporting mechanisms, maintaining privacy while confirming solvency.
Within Tapbit’s security framework, Proof of Reserves serves as a measurable trust layer, complementing real-time monitoring, wallet segregation, and risk controls. Together, these mechanisms ensure that platform solvency is verifiable at all times.
“Market conditions may change rapidly, but transparency should never be conditional,” said Milton Cogo. “Proof of Reserves provides a framework that allows users to confirm asset backing at any moment. Maintaining this clarity is essential for building long-term confidence.”
About the Tapbit and Hacken Partnership
Hacken is a global cybersecurity firm specializing in blockchain security, smart contract audits, and penetration testing. The company provides independent security assessments and advisory services to Web3 projects, exchanges, and decentralized applications, helping advance security standards across the digital asset industry.
Tapbit is a global digital asset trading platform established in 2021, offering cryptocurrency derivatives trading as well as spot and copy trading services. Operating in over 190 regions, Tapbit supports a growing international user base with a focus on performance, stability, and accessibility.
Tapbit’s infrastructure is designed to efficiently handle dynamic market conditions, supported by layered risk management and continuous system optimization. Its products balance advanced trading capabilities with user-friendly design, ensuring both depth and usability.
Transparency and operational integrity are core priorities for Tapbit. Through structured risk controls and independently verifiable frameworks, the platform aligns with evolving industry standards for accountability and trust. Guided by a long-term strategic vision, Tapbit continues to enhance system reliability and resilience, providing a sustainable trading environment for global users.
