How to Verify Ownership and Balance of an OKX Wallet Address

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Verifying the ownership and balance of a cryptocurrency exchange wallet address is a critical step in ensuring transparency, security, and trust. OKX, a leading digital asset platform, provides open-source tools and public snapshots to allow users to independently verify its wallet reserves. This guide walks you through the complete process of confirming both address ownership and on-chain balances using OKX’s Proof of Reserves (PoR) data and verification tools.

Whether you're a security-conscious investor, auditor, or blockchain enthusiast, understanding how to validate exchange-held assets empowers you with trustless verification—no need to take claims at face value.

What You Need Before Starting Verification

Before diving into the verification process, ensure you have the following:

  1. Download the Proof of Reserves package from the official OKX website. This includes:

    • A .csv snapshot file containing wallet addresses, balances, and cryptographic proofs.

    • Two open-source verification tools:

      • VerifyAddress: Validates that specific addresses belong to OKX.
      • CheckBalance: Confirms that on-chain balances match the published snapshot.
  2. Save both the PoR file and verification tools in the same folder for seamless access during command-line operations.

  3. Prepare your system environment:

    • For Mac: Use Terminal.
    • For Windows: Use Command Prompt or PowerShell.
    • Optional: Install Bitcoin Core (for BTC balance checks at historical block heights).

How to Verify Ownership of OKX Wallet Addresses

OKX proves ownership of its wallet addresses through cryptographic signatures embedded in the Proof of Reserves snapshot. These signatures confirm that OKX controls the private keys associated with each public address—without ever revealing those keys.

Understanding Cryptographic Proof Methods

Different blockchains use different signing mechanisms:

✅ Bitcoin (BTC) Wallets

✅ Ethereum (ETH) & USDT (EVM Chains)

👉 Learn how cryptographic proofs build trust in digital asset platforms.

Step-by-Step: Using OKX’s VerifyAddress Tool

  1. Open your terminal:

    • Mac: Launch Terminal.
    • Windows: Open Command Prompt.

  2. Navigate to your downloaded folder:

    cd ~/Downloads/proof-of-reserves

  3. Run the verification command:

    • On Mac:

      ./VerifyAddress --por_csv_filename=okx_por_20221122.csv

    • On Windows:

      VerifyAddress.exe --por_csv_filename=okx_por_20221122.csv

  4. ⚠️ Mac Security Note: If you see “cannot be opened because the developer cannot be verified,” go to:

    • System Preferences > Security & Privacy > General
    • Click the lock icon, enter your password, then allow apps from App Store and identified developers.

  5. On successful execution, the terminal will display:

    "Verify address signature completion, all addresses sent"

This confirms that every address in the snapshot was cryptographically proven to be controlled by OKX.

Alternative: Verify Ownership Using Third-Party Tools

You can also use independent tools to verify BTC single-signature addresses or EVM-based wallets:

  1. Extract one entry from the .csv file (address, message, signature).
  2. Visit a third-party verifier (e.g., https://etherscan.io/verifySig for Ethereum).
  3. Paste all three components.
  4. If the tool returns “Valid Signature,” ownership is confirmed.

This method enhances decentralization and allows anyone to audit without relying solely on OKX-provided software.

How to Verify Staked ETH Asset Ownership

For staked ETH, OKX publishes validator public keys. You can cross-check these on Beacon Chain explorers like beaconcha.in:

  1. Open the staking data file from the PoR package.
  2. Copy a validator’s public key.
  3. Go to beaconcha.in, paste the key, and search.

  4. Check:

    • Sender Address: Should match an OKX-controlled withdrawal address.
    • Recipient Address: Should match a known OKX deposit address.

These addresses are signed by OKX using standard messages, allowing full traceability and proof of control.

How to Verify OKX Wallet Balances

Balance verification ensures that the total funds listed in the snapshot actually existed on-chain at a specific block height.

Two Key Checks:

  1. Individual Address Balance: Compare one address’s balance at snapshot height vs. the .csv.
  2. Total Coin Balance: Sum all BTC/ETH/etc. addresses in the file and compare with on-chain totals.

Both must match exactly.

Verifying BTC Balances at Snapshot Height

Due to Bitcoin’s design, checking historical balances requires rolling back a full node to the exact block height.

Steps:

  1. Download Bitcoin Core (v0.21 or later).

  2. Create a config file at ~/.bitcoin/bitcoin.conf:

    server=1
rpcuser=OKX
rpcpassword=OKXWallet

  3. Start the node:

    ./bitcoind
  4. Wait 10–12 hours for full sync.

  5. Roll back to snapshot block:

    • Find the next block’s hash after the snapshot.

    • Run:

      ./bitcoin-cli invalidateblock [block_hash]
  6. Once rolled back, use CheckBalance tool to query real-time balances.

Using CheckBalance Tool for BTC & ETH/USDT

After preparing your environment (including optional RPC/API settings in rpc.json), run:

🔹 Check Single Address Balance

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

# Windows
CheckBalance.exe --mode="single_address" --coin_name="btc" --address="3A1JRKqfGGxoq2qSHLv85u4zn935VR9ToL" --por_csv_filename=okx_por_20221122.csv

🔹 Check Total Balance Across All Addresses

# For ETH total
./CheckBalance --mode="single_coin_total_balance" --coin_name="eth" --por_csv_filename=okx_por_20221122.csv

Supported coins include:

Compare results with the .csv—they should be identical.

👉 Discover how blockchain transparency protects your digital assets.

Configuring RPC & API Options

To speed up balance checks without running full nodes:

Option 1: Use Public RPCs (e.g., Infura, Alchemy)

Update rpc.json with your provider’s endpoint:

{
  "eth": {
    "rpc_url": "https://mainnet.infura.io/v3/YOUR_PROJECT_ID"
  }
}

Option 2: Use OKLink API

OKLink offers high-performance on-chain data APIs:

  1. Log in to OKLink.
  2. Go to Profile > API.
  3. Create an API key under On-Chain Data.
  4. Add it to rpc.json.

This enables fast, accurate balance queries without local node setup.

Frequently Asked Questions (FAQ)

Q1: Why does OKX publish Proof of Reserves?

A: To prove solvency and demonstrate that user funds are fully backed by real on-chain assets—enhancing transparency and trust in the platform.

Q2: Can I verify reserves without technical knowledge?

A: While basic verification requires command-line usage, community tools and tutorials are emerging to simplify the process for non-technical users.

Q3: What if my balance check doesn’t match the snapshot?

A: Double-check block height, RPC configuration, and file integrity. Discrepancies may indicate syncing issues or misconfiguration—not necessarily fraud.

Q4: Is multi-signature safer than single-signature?

A: Yes. Multi-sig requires multiple keys to authorize transactions, reducing risk of theft or loss compared to single-key control.

Q5: How often does OKX update its Proof of Reserves?

A: Regularly—typically monthly or quarterly—with timestamps and block heights clearly marked for auditability.

Q6: Can I verify other exchanges the same way?

A: Some do offer PoR reports, but few provide open-source tools like OKX. Always look for verifiable, auditable proof—not just PDFs or screenshots.

Final Thoughts

Transparency is no longer optional in crypto—it's essential. By publishing cryptographically provable reserves and offering open-source verification tools, OKX sets a benchmark for accountability.

With this guide, you now have everything needed to independently verify:

Empower yourself with trustless verification—because in Web3, don’t trust, verify isn’t just a slogan—it’s a necessity.

👉 Start verifying digital asset transparency today with powerful blockchain tools.