Since the resounding bankruptcy of FTX at the end of 2022, a question has haunted users of crypto platforms: are my funds really there? OKX responds to this in two ways. On the one hand, its “Proof of Reserves”, published every month since November 2022, shows that customer deposits are covered at 100% or more. On the other hand, “OKX Shield”, launched on September 17, 2026 in Europe, can reimburse up to €500,000 in the event of account hacking.
Two tools, two risks: the bankruptcy of the platform on one side, the theft of your account on the other. Here's what they really cover (and what they don't cover).
Proof of Reserves (PoR): OKX opens its vaults
Proof of Reserves (PoR) has a simple ambition: to irrefutably demonstrate that an exchange holds at least as much cryptocurrencies as it owes to its customers. An exercise which the banks would be incapable of carrying out, since they only keep a tiny part of the assets they owe to their depositors: if everyone demanded their money at the same time, bankruptcy would be immediate.
In 2022, when the market discovered FTX's deception (client funds used and/or lost in bad investments), almost all exchanges published proof of reserves to reassure their users and show that they were not doing the same. But once the fear subsided and the affair was out of the news, the public quickly forgot. Many platforms then stopped their audits and publications. Some even continue to highlight a proof of reservations page... which has not been updated for years.
OKX, a platform that stands out from the crowd
OKX, for its part, plays a different role. Since 2022, the platform has never stopped having its reserves audited and publishing proof each month attesting that it holds all of its clients' assets, at a ratio of at least 1 to 1.
Its 46th report, published in September 2026, covers $22.96 billion in core assets, spread across 22 cryptos. The principle: OKX takes a “photo” of the balances of all its customers, arranged in a Merkle tree. This structure represents millions of accounts in a single tamper-proof fingerprint. OKX simultaneously publishes the list of addresses of the “on-chain” wallets belonging to it. By comparing the amounts, we can see if the platform has everything it is supposed to have.
As you can see above, all ratios reach or exceed 100%.
Since 2024, the proof has been based on zk-STARK, a “zero-knowledge proof” technology. It demonstrates that the calculations are correct, without revealing any balance or identity (no one other than OKX can know how much you have in your account). It confirms that the total announced is accurate, that no account is negative and that each account is included.
Check for yourself
The whole point of this system is that it does not require you to take OKX's word for it: everyone can check for themselves, without being an expert.
You can thus check that OKX holds the assets it is supposed to hold, that the calculations are accurate and that your account appears in the Merkle tree. The approach remains accessible, even if it requires a minimum of computer knowledge.
OKX Shield: a safety net against hacking
Proof of Reserves protects against bankruptcy. But for an individual, the most concrete danger remains the hacking of their own account. This is where “OKX Shield”, a very recent program that we already told you about a few days ago, comes in:
By activating this shield, users can be reimbursed in the event of losses caused by a third party taking control of their account. It joins the security range of “OKX Protect”, the security showcase of the exchange, which claims 690,099 users protected between January and August 2026.
It is free, with a cap that depends on your VIP level.
An option that is activated voluntarily
Shield does not activate on its own! To qualify, you must first have your eligibility verified when you log in to the platform. A pop-up should open to offer it to you. Otherwise, you can find the option via the “More” tab then “OKX Shield”.
You will then be asked to activate various protection measures for your account if you have not already done so: Activate a “Passkey” (access key linked to your device, which replaces the password); Enable large withdrawal protection; Enable withdrawal protection from the website.
Then simply accept the general conditions and click on “Activate OKX Shield”. These criteria are continuously monitored: if one of them is no longer met, the protection is paused, then automatically reactivated once the problem has been resolved.
What you are protected for
OKX Shield is neither insurance nor a deposit guarantee. It is a voluntary and discretionary program which targets fraudulent withdrawals after unauthorized access to the account: identifiers stolen by phishing, malware, remote control without your participation or “SIM swap” (hijacking of your telephone number). All provided that the protection is active at the time of the incident.
On the other hand, any operation that you have launched or validated yourself is excluded, even if a scammer has manipulated you. The false advisor who pushes you to “safeguard your funds” therefore remains out of the picture. Same for trading losses, funds out of OKX account, leaked API keys or negligence.
Two rules to know: Only one reimbursement per person and per life, all OKX entities combined. You must react quickly, by making a formal request within 72 hours after the last fraudulent transaction, and providing supporting documents within seven days.
OKX, a platform that goes beyond its obligations
Whether it is proof of OKX reserves or OKX Shield, these two devices do not in any way constitute legal obligations for the platform. OKX puts them in place voluntarily, to better protect its users. In both cases, it encourages everyone to adopt a proactive approach to security: check the proof of reservations yourself, voluntarily activate OKX Shield. Nothing is imposed, everything is suggested.
In other words, the platform invites its users to do like it: go beyond the strict framework of obligations. By respecting the rules, OKX does not forget the original spirit of cryptocurrencies and Bitcoin, that of independence from the system and the authorities. She therefore takes her responsibilities and invites us to take ours, without waiting for any authority to force us to do so.
