How to verify OKX's ownership and balance of the wallet address？

This article will describe how to verify OKX's ownership and balance of the wallet address through OKX's latest reserve snapshot file and open source reserve verification tool.

Overview of reserves balance at OKX snapshot moment

Preparations before verification

1. Download the verification tool, double-click to decompress the downloaded zip file.

The file contains the following two tools:

VerifyAddress - To verify ownership of reserves address CheckBalance - To verify reserves address balance (Note: rpc.json needs to be configured, in order to configure node RPC or OKLink open API and other related information.)

2. Download Proof of Reserves File

3. Store the downloaded Proof of Reserves and verification tool in the same folder

4. If you need to verify the ownership of reserves address, please refer to the [Verify OKX's Ownership of Wallet Reserves Address via verification tools] chapter for operation; If you need to verify the balance of reserves address, please refer to the [Verification of Wallet Reserves Address Balance] chapter for operation

Supporting cryptos for verification

1. Verify OKX's Ownership of Wallet Reserves Address

You can confirm the ownership of the reserves address published by OKX through the open source tools provided by OKX or third-party tools.

1.1 Verify OKX's Ownership of Wallet Reserves Address via verification tools

  Step 1: Open the terminal program

• Mac system: Terminal
• Windows system: Command Prompt

  Step 2: Run the command and locate to the directory of the downloaded folder, in our case, enter the command cd ~/Downloads/proof-of-reserves

  Step 3: Enter the following command in terminal

Mac

1 ./VerifyAddress --por_csv_filename=okx_por_20221116.csv

Windows

1 VerifyAddress.exe --por_csv_filename=okx_por_20221116.csv

  Step 4: If the verification is passed, the terminal will return "Verify address signature end, all address passed"(shown in picture below)

1.2 Verify OKX's Ownership of Wallet Reserves Address via third-party tool

For the following addresses, you can use third-party tools to verify OKX's ownership of these addresses.

• BTC single-signature address - BTC signature verification tool
• EVM address - ETH signature verification tool
• TRX chain address - TRX chain signature verification tool

Taking the BTC single-signature address as an example

Step 1: download and open Proof of Reservesfile

Step 2: copy a record from the file, including address, message, and signature (shown as below)

Step 3: Go to BTC signature verification tool website, paste the Address, Message, and Signature

Step 4: If the verification is passed, the result will be shown as below:

2. Verify the balance of OKX Wallet Reserves Address

You can verify by the following steps:

1. Compare the address balance of a specific crypto chain at the snapshot height time with the address balance in the snapshot file published by OKX to verify whether they are consistent.

2. Compare the sum of address balances of a specific crypto chain at the snapshot height time with the sum of address balances in the snapshot file published by OKX to verify whether they are consistent.

When querying the address balance at the height of the snapshot, you can configure node rpc for balance query, or configure OKLink's open API for balance query.

2.1 Verify BTC specified address balance and total balance

Step 1: Install the Bitcoin Core client, synchronize to the latest height, and then roll back the block to the height of the OKX snapshot

server=1
rpcuser=OKX
rpcpassword=OKXWallet

Step 2：Configure the parameters

1. Open rpc.json file
2. Configure btc-related RPC parameters in the rpc.json file and save the file, as shown in the figure below

Step 3：Use the tool CheckBalance to verify whether the balance of the on-chain address is consistent with the balance shown in the snapshot file

Verification Steps

1: Open the terminal program

• Mac system: Terminal
• Windows system: Command Prompt

2: Run the command and locate to the directory of the downloaded folder, in our case, enter the command cd ~/Downloads/proof-of-reserves

Verify the balance of a single address

1）Enter the following command on the terminal, as shown below

Mac

1 ./CheckBalance --mode="single_address" --coin_name="btc" --address="3BdEq8vnX1o1J4Zpwj6wkPh5FxrgxLAibr" --por_csv_filename=okx_por_20221116.csv

Windows

1 CheckBalance.exe --mode="single_address" --coin_name="btc" --address="3BdEq8vnX1o1J4Zpwj6wkPh5FxrgxLAibr" --por_csv_filename=okx_por_20221116.csv

2）According to the returned result, the balance of a single address is equal to xx

3）Compare the OKX balance published in the file and returned result, it is consistent

Verify the balance of all addresses

1）Enter the following command on the terminal, as shown below

Mac

1 ./CheckBalance --mode="single_coin_total_balance" --coin_name="btc" --por_csv_filename=okx_por_20221116.csv

Windows

1 CheckBalance.exe --mode="single_coin_total_balance" --coin_name="btc" --por_csv_filename=okx_por_20221116.csv

2）According to the returned result, the balance of all addresses is equal to xx

3）Compare the OKX balance published in the file and returned result, it is consistent

2.2 Verify ETH / USDT specified address balance and total balance

OKX has published the addresses on the ethereum, optimism, arbitrum, polygon, avalanche and other chains that it owns and the balance of related assets (ETH or USDT). You can use open source tools to verify the balance of related addresses.

You can choose to use the official default RPC, third-party rpc or OKLink API for verification

1. Use the default rpc without modifying rpc.Jjson, you can directly go to the verification step

2. Use third-party node rpc (such as: Infura, Alchemy) - please see the appendix

3. Use OKLink's API for verification - please see the appendix

Use the tool CheckBalance to verify whether the balance on the on-chian address is consistent with the balance shown in the snapshot file

Verification steps

Step 1: Open the terminal program

• Mac system: Terminal
• Windows system: Command Prompt

Step 2: Run the command and locate to the directory of the downloaded folder, in our case, enter the command cd ~/Downloads/proof-of-reserves

Verify a single address balance:

1: Suppose you want to verify whether the balance of the ETH address 0x0003d703d621f2e458bee467f6e8683743933174 at the specified height XX is consistent with the balance displayed in the snapshot file, you need to execute the following command on the terminal

Mac

1 ./CheckBalance --mode="single_address" --coin_name="eth" --address="0x0003d703d621f2e458bee467f6e8683743933174" --por_csv_filename=okx_por_20221116.csv

Windows

1 CheckBalance.exe --mode="single_address" --coin_name="eth" --address="0x0003d703d621f2e458bee467f6e8683743933174" --por_csv_filename=okx_por_20221116.csv

Note: If you query other currencies, you need to replace coin_name and address

2. According to the returned result, the balance of the query address of ETH at the specified height XX is equal to xx

Verify the sum of all address balances of certain crypto

1. Suppose you want to verify whether the balance of all ETH addresses at the specified height xx is consistent with the balance shown in the snapshot file, you need to execute the following command on the terminal:

Mac

1 ./CheckBalance --mode="single_coin_total_balance" --coin_name="eth" --por_csv_filename=okx_por_20221116.csv

Windows

1 CheckBalance.exe --mode="single_coin_total_balance" --coin_name="eth" --por_csv_filename=okx_por_20221116.csv

Note: If you want to query other cryptos, you need to replace coin_name, and the following values are supported:

BTC,ETH,ETH-OKC,ETH-ARBITRUM,ETH-OPTIMISM,USDT-ERC20,USDT-TRC20,USDT-OKC,USDT-POLY,USDT-AVAXC,USDT-ARBITRUM,USDT-OPTIMISM

2. According to the returned result, the total balance of all addresses of ETH at the specified height xx is equal to xx

3. Compare the proof of reserves published by OKX and the output results, the balance of all addresses and the balance in the proof of reserves are equal to XXX, which can prove the sum of balances that OKX has at the time of the snapshot is xx

Appendix

Use third-party node RPC (eg: Infura, Alchemy)

Configure the rpc parameters of each chain archive node in the rpc.json file, as shown in the following figure:

OKLink API balance verification

Configure parameters related to OKLink open API in the rpc.json file, as shown in the figure below

OKLink is a blockchain big data company that provides an open interface to query the address balance of a specified height in the blockchain. You can also obtain the public API from OKLink to verify the address balance published by OKX.