OKX publishes proof of reserves with over 100% assets held for 22 cryptocurrencies

OKX's latest proof-of-reserves report demonstrates that the exchange holds reserves exceeding customer deposits for 22 major cryptocurrencies. This is the exchange's 30th consecutive such report.

The report shows OKX holds $23.1 billion in primary assets across these 22 tokens, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), Ripple (XRP), and Dogecoin (DOGE).

OKX stated, "We prioritize the safety and security of customer assets. Our balance sheet maintains a 1:1 reserve ratio, ensuring best-in-class security and liquidity."

Independently audited by Hacken, a major web3 security auditor, the exchange reports on-chain reserves exceeding 100% for these 22 cryptocurrencies. The exception is OKX's native token, OKB, which maintains a 1:1 ratio.

Specifically, OKX holds 139,082 BTC (worth $13.2 trillion at the time of the report), representing 104% of customer BTC deposits. Similarly, reserves for Ethereum and Tether also exceed customer deposits by 4%. USDC, Dogecoin, and Solana (SOL) reserves exceed deposits by an additional 1%, while XRP reserves show a 110% ratio.

Proof-of-reserves cryptographically attests that customer deposits are fully backed by on-chain reserves at a given time. This safeguards against potential exploits or hacks, ensuring sufficient funds to cover customer losses and maintain platform liquidity.