KEY ($0.00) TAKEAWAYS
- Hacken’s latest Proof of Reserves report confirms a 1:1 or greater reserve ratio for 22 major assets, verifying $27.9 billion in primary assets.
- The audit validated over 650,000 wallet addresses across more than 20 blockchain networks, including Ethereum, Solana, Polygon, and Bitcoin.
- Advancements in the PoR system include zk-STARK technology, reducing proof file sizes and expanding verifiable assets.
- OKX Protect has been launched to enhance user security with educational resources and advanced security features.
Hacken has released its 27th consecutive Proof of Reserves (PoR) report, confirming a 1:1 or greater reserve ratio across 22 of the most commonly traded assets on its platform. The audit, conducted by blockchain security firm Hacken, verified $27.9 billion in primary assets. The process involved validation of over 650,000 unique wallet addresses across more than 20 blockchain networks, including Ethereum, Solana, Polygon, and Bitcoin.
The audit found no discrepancies in reserve validation, with current primary asset ratios reported as follows: Bitcoin (BTC ($104,933.50)) at 105%, Ethereum (ETH ($3,182.04)) at 102%, Tether (USDT ($1.00)) at 106%, and USD Coin (USDC ($1.00)) at 100%. This marks a significant year-on-year growth of 99.3% in primary asset figures, rising from $14.9 billion in January 2024.
Advancements in Proof of Reserves System
Over the past two years, the PoR system has seen enhancements with the implementation of zk-STARK technology. This has optimized proof file sizes from 2.55GB to 598KB and expanded verifiable assets to include 22 major cryptocurrencies. The security framework supporting these advancements includes a multi-billion-dollar Insurance Fund, AI-powered security tools, and state-of-the-art encryption protocols.
Additionally, the platform has launched OKX Protect, a safety-focused hub offering educational resources on critical security features. These include two-factor authentication (2FA), withdrawal allowlists, and device monitoring. The hub also provides guidance on avoiding scams and phishing attempts, while explaining advanced security technologies.
For more information, the full report can be accessed here.
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