OKX Releases 28th Consecutive Proof of Reserves Report with $28.1 Billion in Assets

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OKX, a prominent cryptocurrency exchange, has unveiled its 28th consecutive Proof of Reserves (PoR) report, showcasing $28.1 billion in primary assets backing customer funds. This figure represents a 59% increase compared to the previous year.

The latest report, independently audited by blockchain security firm Hacken, confirms that OKX maintains a reserve ratio of 1:1 or higher across 22 of its most widely traded digital assets. Key reserve ratios highlighted in the report include:

Asset Breakdown and Security Measures

The total reserve of $28.1 billion is distributed across major cryptocurrencies, demonstrating the platform's substantial backing:

This verifiable foundation is supported by a multi-layered security framework designed to protect user assets. Key components of this framework include a multi-billion-dollar Insurance Fund*, AI-driven security tools, and OKX Protect—an educational resource hub that helps users implement critical security practices.

Technological Advancements in Proof of Reserves

Over the past two years, OKX has made significant strides in enhancing its Proof of Reserves program. A major technical improvement involves the optimization of zk-STARK technology, which has drastically reduced the size of proof files from 2.55GB to just 598KB. This enhancement improves both the efficiency and accessibility of the verification process for users.

Furthermore, the number of verifiable assets has been expanded to include 22 major cryptocurrencies, providing broader transparency across the platform's offerings. These advancements are integrated with state-of-the-art encryption protocols and sophisticated wallet infrastructure to ensure a secure and user-friendly experience.

The comprehensive audit process conducted by Hacken involves rigorous checks, including zk-STARK proofs and signature validation, to confirm the ownership and adequacy of reserves. The process also examines all public wallet addresses and requires cryptographic proof to ensure full transparency.

For those interested in a deeper dive into the methodology and full data, the complete report is available for review 👉 Explore the full proof of reserves report.

Commitment to Transparency and Trust

The consistent publication of Proof of Reserves reports underscores a commitment to operational transparency and building trust with users. By providing verifiable evidence that customer funds are fully backed, OKX aims to set a industry standard for accountability.

This practice offers users peace of mind, confirming that their assets are secure and available for withdrawal at any time. The year-on-year growth in reserves also reflects the platform's expanding user base and its focus on security as a core principle.

Frequently Asked Questions (FAQ)

What is Proof of Reserves (PoR)?
Proof of Reserves is an auditing method used by cryptocurrency exchanges to prove they hold sufficient reserves to cover all customer balances. It provides cryptographic evidence that user funds are fully backed and available, enhancing transparency and trust.

How often does OKX release its Proof of Reserves report?
OKX releases its Proof of Reserves report on a monthly basis. This latest report marks its 28th consecutive publication, demonstrating a ongoing commitment to verifiable accountability.

Why is an independent audit important for a Proof of Reserves report?
An independent audit conducted by a third-party security firm like Hacken ensures that the reserve data is accurate and has not been manipulated. It adds a crucial layer of credibility and objectivity to the claims made by the exchange.

What does a reserve ratio of over 100% mean?
A reserve ratio exceeding 100%, such as 104% for Bitcoin, means the exchange holds more of that asset in its reserves than the total amount owed to its users. This provides an additional buffer to protect customer funds in case of extreme market volatility or unforeseen issues.

How can users verify the Proof of Reserves data themselves?
Advanced users can verify the cryptographic proofs and wallet addresses published in the full report. For most users, relying on the verification from a reputable external auditor like Hacken provides sufficient assurance of the report's authenticity.

Are all assets on the exchange covered by the Proof of Reserves?
The report covers 22 major digital assets, which represent the primary and most commonly traded cryptocurrencies on the platform. The list of covered assets has expanded over time as the PoR program has evolved.

*Please note that the Insurance Fund is available in specific markets only.