Emre Yumlu 
Transparency and trust are becoming increasingly important in crypto exchanges. In line with this, Backpack Exchange announced that starting today, it will publish its Proof of Reserves once a day, every day. This move allows investors to have direct insight into the security and liquidity of assets on the platform.
Backpack Proof of Reserves Data Will Be Created by OtterSec
The published Proof of Reserves data will be created and verified by OtterSec. This ensures that users can independently confirm that the assets held by the exchange actually exist and are reported in the stated amounts.
Starting today, Backpack will begin publishing its Proof of Reserves once a day, every day.
Built and verified by @osec_io. pic.twitter.com/8rNqeqHsV8
— Backpack 🎒 (@Backpack) August 18, 2025
What is Proof of Reserves and Why Does It Matter?
Proof of Reserves is a mechanism used to verify the quantity and ownership of assets held by a crypto exchange. It is typically supported by on-chain verification and zero-knowledge (ZK) proofs.
The main benefits of this system include:
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Transparency: Investors can see that the exchange’s assets are accurately recorded.
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Trust: Users know that their holdings are secure and can better assess exchange risks.
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Liquidity Verification: The exchange proves it has enough reserves to cover all user withdrawals.
By publishing daily Proof of Reserves, Backpack Exchange will not only boost investor confidence but also contribute to raising transparency standards in the industry. Additionally, all listed ZK global verifications and their statuses will allow users to track the data in real-time.
As trust and transparency become increasingly critical in the crypto world, such initiatives are expected to set a new standard across the sector.
Also click to read our article “What is BackPack? Airdrop Hunting in the BackPack Ecosystem!”
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