Exchange Proof of Reserves Tracker (2026)

Which exchanges publish evidence that they hold your money, and which simply ask you to believe the number in the app. Of the 178 venues we have reviewed, 142 publish nothing at all that would let you verify it, which is 80% of the market and includes places people use every day. Each one is graded below with what it actually publishes.

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What proof of reserves proves, and what it does not

Done properly it lets any customer confirm their own balance is included in the published total. That is genuinely useful and a long way short of an audit. What it usually omits is liabilities. The stronger publications include a liabilities commitment and most do not.

The honest summary: publishing beats not publishing, a regular schedule beats a one off, and including liabilities beats assets alone. None of it changes the basic position that if you do not hold the keys, you own a claim on a company rather than the asset itself.

What to actually do about it

1. Do not keep more on an exchange than you need there. This is the whole answer and the rest is detail. An exchange is somewhere to trade, not somewhere to store.
2. Prefer venues that publish, other things being equal. A venue willing to be checked is telling you something even if the check is imperfect.
3. Treat regulated custody as a real alternative. Segregated client assets under a supervisor enforcing it can be stronger than a self published attestation.
4. Move anything long term into self custody. The hardware wallet chooser covers how.

Questions people ask

What is proof of reserves?

A published statement of the assets an exchange holds, structured so customers can verify their own balance is counted. The better implementations use a cryptographic tree that lets you check your account is included without revealing anyone else's. It exists because exchanges have repeatedly turned out to hold far less than they owed.

Does it mean my money is safe?

No. Most proofs cover assets only, so an exchange can prove a billion while owing two. Only publications that also commit to liabilities say anything about solvency.

Should I avoid an exchange that does not publish?

Not automatically, since that would rule out most of the market including well regulated venues. A regulated exchange with segregated client assets may be in a stronger position than one publishing an unaudited attestation. What you should not do is keep meaningful money on any of them longer than you need to.

How often should an exchange publish?

Monthly is the standard among those taking it seriously and quarterly is acceptable. A single publication from years ago tells you nothing about today, which is why lapsed publishers are graded separately here.