BitMEX announces that the Proof of Liability (PoL) system is now live and operational. All BitMEX depositors can now verify their individual liability is included in the total exchange liability balance.
This self verification process can be conducted without a third party auditor. Client privacy is preserved, because account balances are randomly split into multiple leaves of the Merkle tree. Reserve and Liability snapshots are published twice a week on Tuesdays and Thursdays.