Grayscale said “security concerns” are the reason it's refusing to release on-chain evidence of its crypto reserves, instead sharing a letter from Coinbase’s custody service attesting to its crypto holdings for its investment products.
Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”addressing investor concerns, Grayscale laid out information regarding the security and storage of its crypto holdings and said all crypto underlying its investment products are stored with Coinbase’s custody service, stopping short of revealing the wallet addresses.
6) Coinbase frequently performs on-chain validation. Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure.
Some Twitter users hit out at Grayscale’s view that security concerns surrounded its decision to withhold its wallet addresses, with one
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