“Bitcoin exchange Kraken has passed a cryptographically verifiable proof of reserves audit with flying colours.  The audit, which was carried out by Stefan Thomas on 11th and 22nd of March, proved that more than 100% of Kraken’s bitcoins are held in reserve.  The process was designed to allow the auditor to verify that the total amount of bitcoins held by Kraken matches the amount required to cover an anonymized set of customer balances.  Thomas said the audit was very strict, but at the same time it maintained ‘absolute privacy’ for customers. He also added that Kraken have expressed interest in conducting regular audits in the future, with different auditors each time.”

http://www.coindesk.com/krakens-audit-proves-holds-100-bitcoins-reserve/

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