OKX has published proof of sanctuaries with more than 100% assets held for 22 cryptocurrencies

OKX’s latest Proof-of-Reserves report reveals that Crypto Exchange Hold Shold, which exceeds the number of assets deposited by customers on the platform, will hold a reserve, especially for 22 major cryptocurrencies.

According to Crypto Exchange’s 30th consecutive back-up proof report, the platform currently holds primary assets worth $23.1 billion from 22 major tokens, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USDcoin (USDC), Ripple (XRP), and Dogecoin (Doge).

“OkX understands that customer assets are safety and security are top priority. The balance sheet ensures that you have sufficient assets at a 1:1 reserve ratio at all times, giving you a long-standing reputation for best-in-class security and liquidity,” Crypto Exchange said.

Audited by leading Web3 security auditor Hacken, Crypto Exchange boasts more than 100% of the assets held in 22 cryptocurrencies.

Starting with the largest cryptocurrency by market capitalization, the platform’s wallets totals 139,082 BTC or $13.2 trillion worth. Compared to the total BTC held by OKX accounts, which are 133,151 BTC, OKX reserves currently hold 104% of their customer deposits.

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For Ethereum, the second largest cryptocurrency by market capitalization, Exchange has 104% of its ETH reserves stored compared to ETH held in its customer account. The same can be said about OKX’s tether reserves, but the exchange equals a total of 8.15 trillion USDT or 104% of reserves compared to customer deposits.

The ratio of Crypto Exchange reserves in USDC, Dogecoin and Solana (SOL) is also above 100%, and above 1%. On the other hand, its proof ratio for XRP is the largest compared to any of the 22 major assets, at 110%.

Proof of reserves is a cryptographic proof that a customer’s deposit matches exactly by on-chain reserves at a certain time. This means that in the event of an exploit or hack, the exchange has enough funds to cover customer losses and ensure liquidity on the platform.

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