How does OKX protect your crypto funds and strengthen security?

When it comes to crypto, security isn’t just about holding assets; it’s about knowing they’re safe and under your control. At OKX, we offer multiple layers of protection to secure your funds and provide you with tools to add extra security. Here’s how we provide a new alternative for your assets and ways you can further strengthen your defenses.

TL;DR

• OKX’s Proof of Reserves ensures full asset backing with transparency.

• Cold storage shields funds from online threats by keeping them offline.

• Multi-signature wallets require multiple approvals for secure transactions.

• The OKX Insurance Fund safeguards against market risks.

• On-chain risk detection blocks suspicious activity, and the token detection tool identifies risky tokens.

Proof of Reserves

We regularly publish proof of reserves, assuring your funds are fully backed and available. This transparency builds trust, providing you with confidence in the safety of your digital assets.

Why it matters

Knowing your assets are fully backed gives you peace of mind about their security.

Cold storage: Keeping assets offline

Most OKX assets are stored in cold storage, meaning they’re offline and shielded from online threats. This approach significantly reduces exposure to hacking attempts and unauthorized access.

Why it matters

Offline storage keeps assets out of reach from potential cyber threats, ensuring a safer environment for your funds.

Multi-signature wallets: controlled access

Multi-signature wallets require multiple keys to authorize transactions, adding an extra layer of security. This setup minimizes unauthorized access by ensuring that only verified parties can initiate transactions.

Why it matters

Reduces the risk of unauthorized access and makes each transaction more secure. We make adding or deleting devices on your account easy with our user device management.

Insurance Fund: Added Protection Against Market Risks

Our Perpetual insurance fund provides additional asset protection against sudden market risks. This feature offers a cushion to ensure that your funds are secure during volatile conditions.

Why it matters

It’s to help give you peace of mind that you can trade confidently, knowing there’s an option to protect your digital assets against unpredictable risks.

On-chain risk detection: monitoring for safety

OKX Wallet continuously monitors on-chain activity to detect and block interactions with risky DApps or addresses. This feature helps protect you from malicious actors in the crypto space.

Why it matter

Shields your assets from scams and suspicious transactions, improving your overall security.

Token detection tool: identifying risky tokens

OKX Wallet’s token detection tool flags tokens with potential risks. This feature helps you make informed decisions about which tokens to engage with, keeping your portfolio safe from fraudulent projects.

Why it matters

Avoid exposure to harmful tokens, protecting your assets from scams and fraud.

Wallet backup: retaining control of your access

Backing up private keys and seed phrases is essential for self-custody. We provide secure backup guidance to ensure you retain access to your assets, even if your device is lost or compromised.

Why it matters

Keeps you in control of your funds, ensuring secure access to your assets whenever you need them.

The final word

We prioritize the security of your digital assets through multiple layers of protection and transparency. With features like Proof of Reserves, we ensure your funds are fully backed and available, giving you peace of mind. Our cold storage solutions keep most of your assets offline, protecting them from cyber threats.

Multi-signature wallets let you control who can access your money by requiring multiple transaction checks. We go further with tools like the OKX Insurance Fund, which helps against market risks, and on-chain risk detection that blocks suspicious activities.

Our token detection tool helps you avoid fraudulent tokens, and secure wallet backup guidance ensures you remain in control of your funds. OKX Wallet is a multi-chain decentralized wallet that allows you to access and explore Web3 with ease.

OKX Wallet supports over 1,000 protocols and DApp features. These include multi-chain and cross-chain DEX, yield farming, NFT marketplace, and DApp discovery. It also provides a user-friendly platform for managing your crypto assets.

By offering self-custody, it ensures that you have full control over your funds, enhancing the security and autonomy of your crypto experience.

FAQ

What’s Proof of Reserves, and why does it matter?

Proof of Reserves is a transparent way of showing that OKX fully backs user assets. It builds trust by proving your funds are safe and available whenever needed.

How does cold storage protect my crypto?

Cold storage keeps most OKX assets offline and away from internet access, significantly reducing the risk of hacking or unauthorized access.

What are multi-signature wallets, and how do they work?

Multi-signature wallets require multiple keys to approve a transaction, ensuring only authorized parties can access your funds, adding an extra layer of security.

How does the OKX Wallet detect risky tokens or scams?

The token detection tool in the OKX Wallet flags suspicious tokens and monitors on-chain activity to block interactions with risky DApps, helping safeguard your assets.