OKX Proof of Reserves: Transparency Guide 2026

Proof of Reserves (PoR) is a transparency mechanism that allows a cryptocurrency exchange to cryptographically prove it holds enough assets to cover all user deposits. In simple terms, it answers the question: "Does the exchange actually have the crypto it says it has?"

After the FTX collapse in 2022, where billions in user funds were misused, PoR became a critical trust indicator for exchanges. OKX was one of the first major exchanges to implement comprehensive PoR, publishing monthly reports that anyone can verify.

OKX uses Merkle tree technology - a cryptographic data structure that allows individual users to verify their own balances are included in the total reserves without revealing other users information. This combines transparency with privacy.

The FTX collapse in November 2022 was a watershed moment for the crypto industry. FTX, once valued at $32 billion, had been secretly misusing billions of dollars in customer funds through its sister company Alameda Research. When users tried to withdraw, the exchange could not honor the requests because the money was gone.

This event demonstrated why "trust but verify" is essential in crypto. Proof of Reserves exists precisely to prevent this scenario. By cryptographically proving that reserves match or exceed deposits, exchanges like OKX provide users with verifiable assurance that their funds are actually there.

OKX committed to regular PoR reports immediately after the FTX collapse and has published them consistently every month since. This transparency has helped build trust and distinguishes OKX as one of the most accountable exchanges in the industry.