OKX customer BTC up 13,800 in a month to 156,609

OKX has published its 49th monthly proof-of-reserves report, showing 156,609 BTC in customer balances. Bitcoin.com calculates that is up 13,800 BTC (9.66%) from the Oct. 3 snapshot, worth roughly $1 billion at current prices. The snapshot is dated Nov. 1, two days after the Binance hack.

Details

OKX's proof-of-reserves page lists total reserves of $33.87 billion across 21 assets. Reserve ratios are 108% for BTC, 101% for ETH, 106% for USDT and 100% for USDC. Customer balances stand at 1,916,904 ETH, about 7.96 billion USDT and about 1.85 billion USDC.

According to Bitcoin.com, ETH balances rose by 54,879 ETH (2.95%) over the month, while USDT fell by about $787 million (9%). Those changes were measured against the Oct. 3 report; OKX's page shows no month-on-month comparison. OKX verifies reserves with zk-STARK proofs, so a customer can check that their balance is included and that the exchange controls the published wallet addresses.

The backdrop is Binance's phased withdrawal restart after the $6.3 billion hack. Binance said it had replaced about 95% of the stolen assets and that BTC, ETH and USDT are fully backed. Bitcoin.com reports roughly $16.5 billion in tracked assets has left Binance since Oct. 29; we have not independently verified that figure.

What it means for the market

The jump in OKX's customer BTC coincides with the Binance hack, but the report does not show where the coins came from. They could be transfers from other exchanges or new customers; the report itself does not establish cause and effect.

Proof of reserves shows assets at the moment of the snapshot and is not a full audit. Still, after the Binance incident users are paying closer attention to such reports across exchanges. For the live bitcoin price, see the daily brief. This is not investment advice.