### The Mazars group was working with Binance, Crypto.com, and Kucoin to establish whether customer deposits were sufficiently backed. Quite suddenly, the published reports were removed from their website. 


Just as the US equity market was in the middle of pullback that was seemingly negatively affecting crypto prices, there is another issue that will put more downward pressure on crypto prices: The Mazars group is pausing its 'audits' of Binance, Crypto.com and Kucoin. 

Mazarss informed Coindesk through an emailed statement that "This is due to concerns regarding the way these reports are understood by the public." Mazars also clarified that its proof-of-reserves reports "do not constitute either an assurance or an audit opinion on subject matter. Instead they report limited findings based on the agreed procedures performed on the subject matter at a historical point in time." 

As some say it, this is all very "sus" (suspicious). 

George of CryptosRus speculates that Mazars group got spooked by what is happening to the firm that audited FTX - they are facing some serious charges. 

Perhaps the Mazars group wants to re-evaluate their methods to ensure that they do not face future liability if Binance, Crypto.com or Kucoin have problems. 

This added FUD is further weighing down already lower crypto prices. The bitcoin price is presently at around the $16,700 level. Ethereum is at the $1,1000 level. 

The Mazars group was working with Binance, Crypto.com, and Kucoin to establish whether customer deposits were sufficiently backed. Quite suddenly, the published reports were removed from their website. 

Sun Dec 18 2022

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Sun Dec 18 2022 Audit Group Mazars Pauses Crypto Audits

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

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Prototype Global Cryptoasset Mapping System Developed

Sun Dec 18 2022

Audit Group Mazars Pauses Crypto Audits