Mazars, the accounting firm that works with major cryptocurrency exchange Binance, has halted all work for clients in the crypto industry, Coindesk news outlet reported on Friday, citing an emailed statement from Binance.
“Mazars has indicated that they will be temporarily pausing their work with all of theirs crypto Customers worldwide including Crypto.com, KuCoin and binance. Unfortunately, this means we are unable to work with Mazars at the moment,” a Binance spokesman said said to Coindesk.
Mazars had carried out a so-called proof-of-reserve test at Binance Bitcoin Holdings earlier this month and found that its bitcoin reserves were overcollateralized in a single day in late November.
The auditing firm deleted the website with the audit report published on December 7th.
Mazars and Binance did not immediately respond to requests for comment.
Mazars’ break comes amid an intense test sparked by the bankruptcy of the FTX Sharing on how such platforms hold user funds.
Binance was hit this week by a spike in outflows that Binance CEO Changpeng Zhao described as “business as usual.” Binance also suspended withdrawals from a major stablecoin for a period of time on Monday, blaming delays in the traditional banking system.
it was before reported that Binance has seen a spike in trading activity for Sun Token, Ardor, Osmosis, FUNToken, and Golem. With the failed trading movement of SUN, ARDR, OSMO, FUN and GLM, users were wondering if some accounts are active binance were compromised with stolen keys.
However, the officer Twitter Binance’s Handle revealed that the company was conducting an internal investigation to verify if bad actors were targeting the exchange.
