FlashRescue Co-Founder Questions JuCoin’s Proof-of-Reserves Claims

FlashRescue co-founder DarcyAri said on X that JuCoin’s official proof-of-reserves (PoR) contains falsified information and does not constitute proof of solvency for real third-party public-chain assets. According to PANews, JuCoin claims total reserves of $511 million with a 123.81% reserve ratio, covering six assets: USDT, BTC, ETH, USDC, BNB, and SOL. DarcyAri said CoinMarketCap links all six of these assets to the same JuChain address. He added that the “USDT” and “USDC” on JuChain are ERC-20 tokens deployed by the project team that can be minted at will, and have no cross-chain bridge relationship with real stablecoins issued by Tether or Circle.