OKX marks four years of Proof of Reserves with its 48th monthly report: over $36 billion, BTC backed at 110%

48 reports in a row

OKX has marked four years of its Proof of Reserves program. In an OKX Learn article and a post on its official X account on 30 October 2026, the exchange said it has now published 48 consecutive monthly reports since November 2022, and that report number 48 is live.

Proof of Reserves is a way for an exchange to show that it holds at least as much of each asset as its customers have deposited. Instead of asking users to trust a single statement, the exchange publishes its wallet holdings and a cryptographic snapshot of customer balances that anyone can check.

What the latest report shows

According to OKX, the latest report covers more than $36 billion in on-chain assets across 22 major cryptocurrencies, and reserves were at or above 100% for every one of them. The four headline ratios it gives are 110% for bitcoin (BTC), 100% for ether (ETH), 105% for USDT and 101% for USDC. A ratio of 100% means the exchange holds exactly as much as customers have on deposit; anything above that is extra.

OKX publishes a separate ratio for each asset rather than one combined figure. That matters because a large surplus in one coin could otherwise hide a shortfall in another.

How to check your own balance

OKX says the program combines on-chain data, zk-STARK cryptography (a type of zero-knowledge proof that lets it prove totals without revealing individual balances) and open-source tools. As a customer you can check that your own balance is included in the snapshot through a Merkle proof, and verify that the listed wallets really belong to OKX. The exchange says this takes a few minutes.

First numbers for OKX Shield

The anniversary article also gives early numbers for OKX Shield, the account-takeover protection program OKX launched in the US and Europe this autumn. OKX says that within weeks nearly 45% of European VIP customers had activated it, along with more than 21% of daily active users in Europe, and that more than 37% of customer assets in the region are now covered. Globally, nearly 16% of VIP customers had switched it on.

OKX stresses that the two features do different jobs. Proof of Reserves is about whether the money is there; Shield is about protecting the account that holds it from certain third-party takeover incidents. OKX describes Shield as a voluntary, discretionary goodwill program that is not insurance, with terms, eligibility rules, exclusions and case review, and availability that varies by country.

Our take

Four years of unbroken monthly reports is a useful track record, and per-asset ratios are the right way to publish them. Keep in mind what a reserves report does not show: it proves assets at a point in time, not the exchange's liabilities outside customer balances or its wider finances. The most valuable step is the one OKX invites you to take yourself, checking that your own balance is in the latest snapshot. If you have not turned on OKX Shield and it is available where you live, it is worth reading its terms too. The OKX code in the boxes on this page is a general trading-fee offer and is not linked to either program.