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How to verify Okcoin's ownership and balance of wallet addresses？

For the purpose of this article, we'll refer to value as balance. This article will show you how to verify the ownership and balance of our wallet addresses. To verify, you'll need to use an Okcoin audit file and an open-source verification tool.

How to prepare for verification

  1. Download our verification tools from GitHub. There are two tools you'll need.
    • VerifyAddress will verify ownership of the wallet address.
    • CheckBalance will verify wallet address balance. Note: rpc.json needs to be configured, in order to configure node RPC or OKLink open API and other related information.1.png
  2. Download our audited wallet address files
  3. Create a folder for both the downloaded wallet address files and verification tools

To verify the ownership of our wallet addresses, follow the steps in the verify Okcoin's ownership of wallet addresses section

 

To verify the balance of reserves address, follow the steps in the verification of wallet reserves address balance section

 

Crypto and networks supported for verification

 

Crypto
Network
BTC
BITCOIN
ETH
Ethereum
USDT
Ethereum
USDT
Tron
USDT
Polygon
USDT
Avalanche
USDT
OKC

Verify Okcoin's ownership of wallet addresses

The wallet address files contain addresses, "I am an Okcoin address" messages, signatures, and multi-signature redemption scripts.
 
Follow these steps to verify that we own these addresses.
  1. The BTC wallet adopts two signature methods: single signature and multi-signature
    • The multi-signature adopts a 2/3 signature. Each piece of data contains two signatures, which are signed by two private keys among the three private keys held by Okcoin. By verifying the two signatures, it can be ensured that we have at least two of the private keys. This proves Okcoin's ownership of the multi-signature address.
    • The single-signature address passed message and signature results prove Okcoin's ownership of the single-signature address.
  2. ETH and USDT wallet
    • Passed message and signature results prove Okcoin's ownership of the single-signature address.
  1.  

You can confirm the ownership of the wallet address published by Okcoin with our open-source tools or third-party tools.

 

How to verify Okcoin's ownership of wallet addresses with our verification tools

Follow these steps to verify our ownership

  1. Open the terminal program on your device
    • Terminal on Mac
    • Command Prompt on Windows
  2. Run the provided command and locate the directory of the downloaded folder. In our case, enter the command cd ~/Downloads/proof-of-reserves
  3. Enter the following command in terminal (The file name can be replaced with another file that needs to be validated)

Mac

./VerifyAddress --por_csv_filename=okcoin_por_2023051101.csv

Windows

VerifyAddress.exe --por_csv_filename=okcoin_por_2023051101.csv
 
Note: If you are using Mac and encounter "cannot open the tools because the developer cannot be verified", please go to System preferences > Security&Privacy > General > Select the lock to make changes > Allow apps downloaded from App Store and identified developers > Allow the [tool]

 

If the verification is passed, the terminal will return "Verify address signature end, all address passed"

verifycoinowner2.jpeg

Verification passed

 

How to verify Okcoin's ownership of wallet address with a third-party verification tool 

For the following addresses, you can use third-party tools to verify Okcoin's ownership of these addresses.
Taking the ETH single-signature address as an example
  1. Download and open Proof of Reserves wallet address files
  2. Copy the provided information from the file, including address, message, and signaturesnapshot.jpegWallet address file information
  3. Go to ETH signature verification tool website, paste the Address, Message, and Signature
    If the verification is passed, the result will be shown as below:

signatureverified.jpeg

 

Verify the balance of Okcoin's wallet addresses

Verify by following these 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 Okcoin to verify whether they're consistent.
  2. Compare the sum of address balance of a specific crypto chain at snapshot height time with the sum of address balance in the snapshot file published by Okcoin to verify whether they're consistent.

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

 

How to verify BTC specified address balance and total balance

1. Install the Bitcoin Core client, synchronize to the latest height, and then roll back the block to the height of the Okcoin snapshot

    1. Download Bitcoin Core. Make sure to download version 0.21 or version after 0.21.
    1. You need to edit the configuration file of Bitcoin Core. In order to visit RPC node, create ~/.bitcoin/bitcoin.conf file and open it with an editor or run the command ofvi~/.bitcoin/bitcoin.conf，edit
server=1
rpcuser=Okcoin
rpcpassword=OkcoinWallet
  1. Enter the bin directory，run./bitcoindcommand，and start the node
  1. Wait for the node to synchronize to the latest height. It'll take about 12 hours.
  1. After synchronizing to the latest height, you need to roll back the node to the Okcoin snapshot height to query the value of the snapshot height. The steps are as follows:
    • Go to the BTC browser to query the block hash of the next height of the snapshot height. Copy this block hash and fill in the hash value part of the command below.
    • Run./bitcoin-cli invalidateblock
      00000000000000000005829017993a7a21e4b7c731c95b9cb979c01294a7bd27
      command
      (Note : ‘00000000000000000005829017993a7a21e4b7c731c95b9cb979c01294a7bd27’ - This parameter is the hash value of the next block at the height of the BTC block in the Proof of reserves file that you downloaded. This is just an example. You need to query the hash value based on the BTC block height in the downloaded Proof of reserves file.)
    • Wait for the node to roll back to the snapshot height, you can run./bitcoin-cli getblockcountcommand to check whether the rollback is complete, you can also view the node output log judgment

inoutimage.png

The node output log judgment

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

output.jpeg

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
    • Terminal for Mac 
    • Command Prompt for Windows
  2. Run the command and locate to the directory of the downloaded folder. In our case, enter the commandcd ~/Downloads/proof-of-reserves

Verify the balance of a single address

1. Enter the following command on the terminal, as shown below (The address and file name can be replaced with other addresses and files that need to be validated)

Mac

./CheckBalance --mode="single_address" --coin_name="btc" --address="3A1JRKqfGGxoq2qSHLv85u4zn935VR9ToL" --por_csv_filename=okcoin_por_2023051101.csv
 
Windows
 
CheckBalance.exe --mode="single_address" --coin_name="btc" --address="3A1JRKqfGGxoq2qSHLv85u4zn935VR9ToL" --por_csv_filename=okcoin_por_2023051101.csv
 
 
Note: If you are using Mac and encounter "cannot open the tools because the developer cannot be verified", please go to System preferences -> Security & Privacy -> General -> Select the lock to make changes -> Allow apps downloaded from App Store and identified developers -> Allow the [tool]
 
2. According to the returned result, the balance of a single address is shown as below

singleaddress.png

3. Compare the Okcoin balance published in the file and the returned result to verify that it is consistent

 

Verify the balance of all addresses

1. Enter the following command on the terminal, as shown below (The file name can be replaced with another file that needs to be validated)

Mac

./CheckBalance --mode="single_coin_total_balance" --coin_name="btc" --por_csv_filename=okcoin_por_2023051101.csv
 
Windows
 
CheckBalance.exe --mode="single_coin_total_balance" --coin_name="btc" --por_csv_filename=okcoin_por_2023051101.csv
 

2. According to the returned result, the balance of all addresses is shown as below

results.png

3）Compare the Okcoin balance published in the file and the returned result to verify that it is consistent

 

How to verify ETH/USDT specified address balance and total balance

Okcoin has published the addresses on the Ethereum, 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.json, you can directly go to the verification step
  2. Use third-party node rpc (such as: Infura, Alchemy) - please go to the appendix
  3. Use OKLink's API for verification - please go to the appendix
Use the tool CheckBalance to verify whether the balance on the on-chain address is consistent with the balance shown in the snapshot file

 

Verification steps

  1. Open the terminal program
    • Terminal for Mac
    • Command prompt for Windows
  2. Run the command and locate the directory of the downloaded folder. In our case, enter the commandcd ~/Downloads/proof-of-reserves

Verify a single address balance:

1. Suppose you want to verify whether the balance of the ETH address 0xc5451b523d5fffe1351337a221688a62806ad91a at the specified height is consistent with the balance displayed in the snapshot file (E.g. okcoin_por_2023051101.csv), you need to execute the following command on the terminal

Mac

./CheckBalance --mode="single_address" --coin_name="eth" --address="0xc5451b523d5fffe1351337a221688a62806ad91a" --por_csv_filename=okcoin_por_2023051101.csv

 
Windows
CheckBalance.exe --mode="single_address" --coin_name="eth" --address="0xc5451b523d5fffe1351337a221688a62806ad91a" --por_csv_filename=okcoin_por_2023051101.csv
 
 
Note: If you are using Mac and encounter "cannot open the tools because the developer cannot be verified", please go to System preferences -> Security & Privacy -> General -> Select the lock to make changes -> Allow apps downloaded from App Store and identified developers -> Allow the [tool]
 
2. According to the returned result, the total balance of all addresses of ETH at the specified height is shown as below:

test.png

3. Compare the Okcoin balance published in the file and the returned result to verify that it is consistent

 

Verify the sum of all address balances of a certain crypto

 
1. Suppose you want to verify whether the balance of all ETH addresses at the specified height is consistent with the balance shown in the snapshot file (E.g. okcoin_por_2023051101.csv), you need to execute the following command on the terminal:
 
Mac
./CheckBalance --mode="single_coin_total_balance" --coin_name="eth" --por_csv_filename=okcoin_por_2023051101.csv
 
Windows
CheckBalance.exe --mode="single_coin_total_balance" --coin_name="eth" --por_csv_filename=okcoin_por_2023051101.csv
 
Note: If you want to check other crypto, you need to replace coin_name, and the following values are supported:
 

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

If you are using Mac and encounter "cannot open the tools because the developer cannot be verified", please go to System preferences -> Security & Privacy -> General -> Select the lock to make changes -> Allow apps downloaded from App Store and identified developers -> Allow the [tool]
 
2. According to the returned result, the total balance of all addresses of ETH at the specified height is shown as below:

2.jpeg

3. Compare the Proof of Reserves published by Okcoin to the output results and the balance of the address to the balance in the Proof of Reserves. Consistency proves the sum of the balances that Okcoin has at the time of the snapshot.

 

Appendix

Use third-party node RPC (e.g. Infura, Alchemy)

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

Get the evm archive node
  • Install the archive node manually. It may take some time to synchronize, reference: https://geth.ethereum.org/docs/install-and-build/installing-geth
  • Use third-party nodes: Infura, Alchemy
e.g. Alchemy provides Ethereum archive node service. Go to overview.
 

verificationstep_end2.png

OKLink API value verification

1. Login to OKLink.
2. Select the human icon in the upper right corner, a drop-down menu will be displayed, select API.
3. Select the Create API button in the On-chain Data section to create the apiKey.

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

vertificationsteps_end.png

OKLink is a blockchain big data company that provides an open interface to check 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 Okcoin.
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