Global cryptocurrency platform OKX recently released its 29th consecutive proof-of-reserves (PoR) report, confirming $24.6 billion in primary assets backing customer funds and showing 11% growth since March 2024. The report was independently audited by blockchain security firm Hacken.
Reserve Ratios and Asset Breakdown
OKX highlighted that the report shows more than 100% reserve ratios for 22 of the most traded assets, with the following key ratios:
- BTC: 105%
- ETH: 103%
- USDT: 101%
- USDC: 101%
The breakdown of the $24.6 billion in assets includes:
- BTC: $11.6 billion
- ETH: $3.5 billion
- USDT: $8.2 billion
- USDC: $1.3 billion
Complete PoR report:
Moreover, the platform noted that since launching its PoR, OKX has continuously improved the program, earning the highest quality rating among exchanges from blockchain expert Nic Carter.
The media release added that in late 2024, the platform further optimized the PoR process by reducing the proof file size from 2.55 GB to just 598 KB, enabling faster, more efficient verification.
“Our robust security framework builds on this foundation of verifiable truth through multiple layers of protection. Our platform employs advanced cold and hot wallet systems, alongside multi-signature authorization protocols to ensure the highest level of asset security.”
OKX
What is Proof of Reserves?
Proof of reserves is a cryptographic attestation that verifies a crypto exchange holds enough assets to cover all customer deposits and liabilities while remaining solvent. It provides transparency of total account balances without exposing individual account details, playing a vital role in the crypto ecosystem.
OKX’s proof of reserves uses the zk-STARK zero-knowledge proof algorithm to transparently verify all account assets. The process includes confirming ownership of on-chain wallet addresses, verifying total wallet holdings, and ensuring the reserve ratio by comparing customer assets with on-chain exchange reserves.
Recent OKX Updates
OKX’s Alpha Traders Summit in Bali gathered 200 top traders, including Filipino KOLs, for discussions on advanced trading strategies, market insights, and OKX’s latest product innovations. Key topics included altcoin trading, decentralized trading and risk management strategies. Notable Filipino attendees included Coach Miranda Miner, Shun, Tito Vlogs, Kuyang Gerome and others.
This article is published on BitPinas: OKX Confirms $24.6B in Assets in 29th Consecutive Proof-of-Reserves Report
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