BINGX 20260915 PoR Transparency Report

Methodology: PoR Stage Framework
Assessment JSON: 20260915-assessment.json

1. Summary

Field	Value
Exchange	`bingx`
Snapshot	`20260915`
Snapshot time	`2026-09-15T00:00:00Z`
PoR Stage	`Stage 0 — Trust the Exchange`
Gen / Evidence	`Gen 1 / E1`
Confidence	`low`
Effective PoR	`false`

bingx snapshot 20260915 remains Stage 0 in the ardmere public evaluation set.

Public artifacts do not support independently reproducible global solvency verification for this snapshot.

2. Stage Decision

Stage 0, not effective PoR

Missing / Blocked Evidence	Risk Flag	Max Stage	Reason
`wallet_address_list`	`UNVERIFIABLE`	Stage 0	No public wallet_address_list.

3. Frequency and Freshness

Field	Value
Latest snapshot (evaluation set)	`2026-10-15T00:00:00Z`
Previous snapshot	`UNVERIFIABLE`
Observed cadence	`~61 days between snapshots`
History available	`2 snapshot(s) in public evaluation set`
Event-triggered updates	`UNVERIFIABLE`
Daily root / commitment anchor	`UNVERIFIABLE`
Stage impact	Monthly or slower cadence; does not meet Stage 2 frequency expectations.

4. Evidence and Bundles

Public Artifacts

Artifact	SHA-256	Source
`summarySnapshot`	`6c8a44f476213b00a3c473a08c031cb315702e915c97c442050d0e85563726f2`	https://bingx.com/en/balance-reserve

Bundle References

Bundle	Value
Artifact bundle root	`0xe17e29f9aeb0d473e01f85d04bbe5d425fcd7a200da94f0a6be5d081d2334077`
Verification bundle root	`0x9e8f9d9d20f6b04b163e46a6ac5e8a2f95a0f5ec3aa0b22dfc2733c3faa1dd05`
Artifact bundle SHA-256	`b6e539d867df49c7b0cb45ff590c4869b1eb83c60144814314602b2c9c2a96ee`
Verification bundle SHA-256	`030c9c8e05482cbe79096ab0aa740bcecbe037f86f9a5ea31c250da6d3adb140`

Local bundle paths: 20260915.artifact-bundle.json, 20260915.verification-bundle.v2.json

5. Verifier Evidence

Verifier	Version	Verdict	Coverage	Summary
`artifact-integrity`	`1.0`	`PASS`	`1.0000`
`solvency-claim`	`1.0`	`PASS`	`1.0000`
`user-merkle-proof`	`bingx-1`	`UNVERIFIABLE`	`0.0000`	BingX user Merkle proof not present; download leaf/path while logged in, wrap as JSON, import via -user-proof
`internal-consistency`	`0`	`UNVERIFIABLE`	`0.0000`	Wallet address bundle not available
`btc-anchor`	`0`	`UNVERIFIABLE`	`0.0000`	BTC block time anchor verifier not implemented
`onchain-balance-hot`	`0`	`UNVERIFIABLE`	`0.0000`	Wallet address bundle not available for on-chain audit
`onchain-balance-token`	`0`	`UNVERIFIABLE`	`0.0000`	Wallet address bundle not available for token audit
`onchain-balance-ledger`	`0`	`UNVERIFIABLE`	`0.0000`	Verifier not available for this exchange snapshot
`address-ownership`	`0`	`UNVERIFIABLE`	`0.0000`	No public download channel for wallet ownership signatures / proofs
`global-zk-proof`	`0`	`UNVERIFIABLE`	`0.0000`	Global proof.csv / verifying key not publicly distributed
`third-party-attestation`	`0`	`UNVERIFIABLE`	`0.0000`	No public third-party attestation report available
`cross-chain-wrapped`	`0`	`UNVERIFIABLE`	`0.0000`	No per-row wrapped-asset metadata in public PoR artifacts (token contract, representation type e.g. WBTC/cbBTC, canonical asset, custody mode)

6. Verifier Finding Details

This section explains FAIL, WARN, and UNVERIFIABLE outcomes from the verification bundle. Row-level UNVERIFIABLE entries often mean the verifier does not yet support that (coin, network) pair, not that the exchange failed the check. Full machine-readable output: 20260915.verification-bundle.v2.json in the local artifact bundle.

Capability and artifact gaps (`UNVERIFIABLE`)

Verifier	Explanation
`user-merkle-proof`	BingX user Merkle proof not present; download leaf/path while logged in, wrap as JSON, import via -user-proof
`internal-consistency`	Wallet address bundle not available
`btc-anchor`	BTC block time anchor verifier not implemented
`onchain-balance-hot`	Wallet address bundle not available for on-chain audit
`onchain-balance-token`	Wallet address bundle not available for token audit
`onchain-balance-ledger`	Verifier not available for this exchange snapshot
`address-ownership`	No public download channel for wallet ownership signatures / proofs
`global-zk-proof`	Global proof.csv / verifying key not publicly distributed
`third-party-attestation`	No public third-party attestation report available
`cross-chain-wrapped`	No per-row wrapped-asset metadata in public PoR artifacts (token contract, representation type e.g. WBTC/cbBTC, canonical asset, custody mode)

No additional row-level FAIL or WARN findings beyond the summary table in §5.

7. Minimal Checklist

Requirement	Status	Notes
Has public PoR been published during the last 12 months? (S0-1)	`pass`	Snapshot 20260915 is in the public evaluation set.
Is snapshot time explicit? (S0-2)	`pass`	2026-09-15T00:00:00Z
Is there reserve summary or wallet_address_list? (S0-3)	`pass`	Summary present; wallet_address_list absent.
Is wallet_address_list public and on-chain verifiable? (S1-1)	`fail`	No public wallet_address_list artifact.
Is wallet_ownership_proof public and batch-verifiable? (S1-2)	`unverifiable`	address-ownership verifier UNVERIFIABLE.
Is global_proof public and independently reproducible? (S1-3)	`unverifiable`	global-zk-proof verifier UNVERIFIABLE.
Is independent third-party review available with stated scope? (S1-4)	`unverifiable`	third-party-attestation verifier UNVERIFIABLE.
If trusted setup is required, is transcript public; otherwise is the proof system transparent setup? (S1-5)	`not_applicable`	No global ZK proof in the assessed public artifact set.
Is root/proof/vk canonically anchored outside exchange servers? (S2-1)	`not_applicable`	Stage 2 is not evaluated until Stage 1 blockers are resolved.
Is publication frequency sufficient for Stage 2 (weekly full PoR / daily anchor)? (S2-2)	`not_applicable`	Stage 2 is not evaluated until Stage 1 blockers are resolved.

8. Recommendations

Priority	Recommendation	Related Risk
`P0`	Publish missing public artifacts required for independent reproduction.	`UNVERIFIABLE`

9. Boundary

This report evaluates public PoR artifacts and reproducibility. It does not evaluate the exchange’s overall financial health, corporate governance, internal controls, off-chain assets, legal compliance, or complete off-balance-sheet liabilities.

Missing data must be marked as UNVERIFIABLE, not treated as PASS.