How to Verify Wallet Address Ownership and Balance Using OKX Proof of Reserves

This guide explains how to use OKX's reserve snapshot file and open-source reserve verification tools to confirm wallet address ownership and check balances.

Preliminary Steps for Verification

1. Download the OKX Proof of Reserves zip file containing two essential tools:

   • VerifyAddress: Confirms reserve address ownership
   • CheckBalance: Verifies reserve address balances (requires RPC node configuration via rpc.json)
2. Place the proof of reserves file and verification tools in the same directory.

Verifying Address Ownership

OKX's snapshot data includes:

• Wallet addresses
• "I am an OKX address" messages with signatures
• Multi-signature BTC redemption scripts

Bitcoin Wallet Verification Methods

• Single-signature BTC addresses: Message transmission and signature results prove OKX ownership
• Multi-signature BTC addresses: Uses 2-of-3 signature scheme, requiring validation of two signatures from OKX's three private keys

ETH/USDT Wallet Verification

• Message transmission and signature results serve as proof of ownership

Step-by-Step Verification Process

1. Open terminal:

   • Mac: Terminal
   • Windows: Command Prompt

2. Navigate to download directory:

   cd ~/Downloads/proof-of-reserves

3. Run verification command (replace filename as needed):

   • Mac:

     ./VerifyAddress --por_csv_filename=okx_por_20221122.csv

   • Windows:

     VerifyAddress.exe --por_csv_filename=okx_por_20221122.csv

4. Successful verification displays: "Verify address signature end, all address passed"

👉 Learn more about wallet security best practices

Third-Party Tools for Additional Verification

For these address types, use third-party tools:

• Single-signature BTC addresses
• EVM addresses
• TRON chain addresses

Checking Wallet Balances

Compare on-chain address balances with OKX's published snapshot:

1. Configure RPC node or use OKLink's open API
2. Use CheckBalance tool to verify balances match snapshot data

Bitcoin Core Node Setup

1. Install Bitcoin Core client (version 0.21+)
2. Sync to latest block height

3. Configure RPC access in bitcoin.conf:

   server=1
   rpcuser=OKX
   rpcpassword=OKXWallet

4. Roll back to snapshot height using block hash

Balance Verification Commands

Single Address Check:

./CheckBalance --mode="single_address" --coin_name="btc" --address="3A1JRKqfGGxoq2qSHLv85u4zn935VR9ToL" --por_csv_filename=okx_por_20221122.csv

Total Coin Balance Check:

./CheckBalance --mode="single_coin_total_balance" --coin_name="btc" --por_csv_filename=okx_por_20221122.csv

ETH/USDT Balance Verification

OKX publishes wallet addresses and balances for:

• Ethereum
• Optimism
• Arbitrum
• Polygon
• Avalanche

Use CheckBalance with:

• Default RPC
• Third-party RPC (Infura/Alchemy)
• OKLink API

👉 Explore advanced verification methods

FAQ

Why is address ownership verification important?

Verification ensures transparency and confirms OKX actually controls the reserve addresses holding user funds.

What if I get a "developer cannot be verified" error on Mac?

Go to System Preferences > Security & Privacy > General and allow apps from App Store and identified developers.

How often does OKX update its proof of reserves?

OKX provides regular snapshots, typically monthly, to maintain transparency about reserve holdings.

Can I verify balances without running a full node?

Yes, you can use OKLink's API or third-party RPC services as alternatives to running your own node.

What cryptocurrencies can I verify?

The tools support BTC, ETH, USDT (multiple chains), and other major assets held by OKX.

Appendix

Third-Party RPC Configuration

Configure rpc.json with:

• Archive node endpoints
• API keys for services like Infura or Alchemy

OKLink API Setup

1. Create API key at OKLink
2. Configure rpc.json with your API credentials
3. Use for balance queries without local node

This verification process ensures OKX maintains full reserves of all customer funds, providing transparency and trust in the exchange's operations.