Crypto exchange OKX has released its eighth monthly report on proof-of-reserves (PoR), revealing that it holds a significant amount of $11.3 billion in BTC, ETH, and USDT. The report shows that OKX has maintained a reserve ratio of over 100% for eight months, indicating that it holds more reserves than the amount of cryptocurrencies owned by its users. To enhance security measures, OKX prioritizes offline cold storage for its reserves. Lennix Lai, the Chief Commercial Officer, highlighted the importance of security, transparency, and trust in OKX’s operations, assuring users that regular PoR audits will be conducted. OKX plans to release monthly PoR reports and introduced a self-audit tool using zk-STARK technology to verify its solvency. Additionally, OKX allows the public to monitor the circulation of assets through its PoR initiative, with over 210,000 addresses released. Users can access the latest PoR report on the dedicated site and independently validate OKX’s solvency.
Continue reading on Crypto.news
