Crypto exchange OKX released its 49th monthly proof‑of‑reserves report covering the snapshot taken on November 1. The data shows customer Bitcoin balances rose 9.66% from the October 3 snapshot, reaching 156,609 BTC – an increase of 13,800 BTC, valued at more than $1 billion at current market prices.
Other Asset Movements
During the same period, customer Ether holdings grew 2.95% to 1.92 million ETH, an increase of 54,879 ETH. USDT balances on OKX fell 9% to 7.96 billion tokens, a decline of roughly 787 million tokens. The exchange’s native token, OKB, slipped marginally to 19.68 million.
Context of Binance Hack
The snapshot was released after Binance reported a security breach that resulted in a loss of approximately $6.3 billion. Binance’s tracked assets fell from about $144.9 billion on October 29 to $128.3 billion on November 2, a decline attributed to both the theft and price movements. Data from Whale Factor indicated that most of the outflow from Binance did not move to other exchanges, with only about $368 million absorbed by the ten largest rivals.
Binance’s Response
Binance announced it has generated a zero‑knowledge proof for its October 31 reserve snapshot, covering ten tokens including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. The proof allows users to verify that their balances are backed 1:1 without revealing individual account details.
Future Reporting
Binance plans to release a new reserve snapshot on November 4, while OKX’s 50th report, expected in early December, will be the first to cover a full month after the Binance incident. Traders will also be monitoring OKX’s tokenized stock venture, which has faced objections from several listed companies.
