Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Sophie Robert on June 28, 2023, 12:39:53 PM
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OKX, the second-largest crypto exchange, published its eighth consecutive monthly Proof of Reserves (PoR) showing balances of $11.3 billion in BTC, ETH, and USDT. The PoR covers 22 digital assets and reveals OKX’s reserve ratio exceeding 100% for eight months. The majority of reserves are stored in off-chain cold storage for enhanced security. Current reserve ratios are BTC: 103%, ETH: 103%, and USDT: 103%, reinforcing OKX’s transparency and reliability in the crypto industry.
Official Source - https://twitter.com/okx/status/1673890484387717122 (https://twitter.com/okx/status/1673890484387717122)
Offline cold storage
OKX prioritizes offline cold storage for its reserves to enhance security measures and mitigate online vulnerabilities and potential attacks.
About OKX Exchange -
With over 210,000 addresses released as part of its PoR initiative, OKX allows the public to monitor the circulation of assets. Users can access the latest PoR report on the dedicated site, check reserve ratios, and independently verify OKX’s solvency.
**Not sponsored but the below video is for beginners for OKX