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OKX Exchange released proof of reserves of all customer funds this month in light of FTX’s insolvency and mismanagement of user assets, and more recently Shades of grey failing to prove his reservations.

Evidence of OKX reserves on Nansen

Cementing its reputation as one of the safest and best crypto exchanges (CoinMarketCap consistently ranks OKX in the top 10 exchanges, and CoinGecko in the top 5), this process began as early as November 12, a day after FTX announced its Chapter 11 bankruptcy filing.

OKX worked with trusted independent analytics platform to produce the dashboard below. View OKX’s asset portfolio on Nansen here.

OKX Latest Stock Exchange Reserve Ratio

Additionally, OKX users can view an overview of OKX holdings and the latest reserve rate on the OKX platform itself (formerly known as OKEx).

At the time of writing, the latest snapshot was taken on November 22, showing OKX controlling BTC, ETH and USDT beyond 100% of user holdings i.e. all assets are backed by at least 1:1 or more.

The OKX exchange currently holds over 100,000 Bitcoins.

A message about the OKX website States:

Our greatest responsibility and number one priority is to ensure the safety of your funds at all times. We always maintain 1:1 reserves and are proud of our long-standing reputation for top-notch security. Now, we’re giving you more transparency than ever with Proof of Reserves (PoR). Our on-chain wallets are public, so you can always verify that user funds are backed 1:1 by real assets.

OKX then explains how its proof of reserves audits are carried out, using the Merkle tree verification method.

Customers on OKX can self-check whether their own assets are included in this OKX Merkle tree by visiting the “My Audit” section of the website when logged in.

Visit OKX Exchange

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