OKX announced the official launch of Proof of Reserve (POR) on November 23, with reserve ratios of BTC, ETH, USDT, and other currencies all exceeding 100%.
The importance of Proof of Reserve has been recognized by the exchange. They stated that OKX‘s primary responsibility and priority is to ensure that users’ funds are safe and secure at all times. They always keep 1:1 reserves on hand and take pride in our long-standing reputation for best-in-class security. The exchange emphasized that they are thrilled to provide greater transparency to their users than ever before through Proof of Reserves (PoR).
Users can always verify that the funds are backed 1:1 by real assets because the on-chain wallet holdings are public. They also stated that Proof of Reserve audits will be published on a regular basis, allowing users to easily verify that their assets are safely held in our reserves.
All users can now actively query and compare OKX’s on-chain wallet address assets with users in the Merkle Tree total assets on the official website page, thereby verifying its asset reserves. The reserve ratios of BTC, ETH, USDT, and other currencies are all over 100%, according to a query on the OKX official website.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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