[PoR] How to Verify My Assets on Poloniex
Poloniex is committed to transparency on the safety and security of user assets. You can now use Merkle tree to accurately verify Poloniex's Proof of Reserves and your account balance.
I. How to verify my account balance with Merkle tree?
*Note: The audits only cover the assets reflected in the snapshot of your accounts. Any subsequent trades or any assets beyond the scope of snapshots will not be shown.
1. Go to Poloniex's official website and log into your account. Click Discovery and then Asset Security to enter the verification page.
2. Select the audit you want to verify and click Details to check the audit details.
3. You will see detailed information on the audit, including asset balance, audit time and ID, and Merkle hash. Poloniex conducts regular Proof of Reserves (PoR), and each audit ID has a unique character string. Click the "Download" button to export the data in the merkleProof.json file.
*Note: You may find the audit data differs from your account balance as only snapshotted assets are displayed here, not your real-time assets.
4. Download MerkleVerify provided by Poloniex on GitHub.
5. Save MerkleVerify and the proof data downloaded in step 4 to the same folder. For example, save the files to a folder named poloniex-merkle-verify in Downloads, as shown in the following screenshot.
6. Open a terminal program (Mac/Linux: Terminal; Windows: Command Prompt).
7. Enter the command cd ~/Downloads/poloniex-merkle-verify (use the folder name you set as step 5 requires) in the terminal program and go to the directory of the downloaded software package.
8. Enter the following commands to verify your data.
- l Mac/Linux: ./MerkleVerify --file merkleProof-20240801.json
- l Windows: MerkleVerify.exe --file merkleProof-20240801.json
*Note: If you use the Mac system and encounter a security setting issue in this step, go to System Preferences -> Security & Privacy -> General -> Click the lock to make changes -> Allows apps downloaded from App Store and identified developers -> Allow the tool.
9. View the result.
1) If your data is correct, the message "Merkle proof verify passed" will be displayed, as shown in the picture below.
2) If your data is incorrect, the message "Merkle proof verify failed!" will be displayed, as shown below.
II. How to verify Poloniex's ownership and balance of the reserves addresses?
Preparation
1. Download the VerifyAddress tool and double-click to decompress the zip file.
● VerifyAddress - for verifying the ownership of the addresses of the reserves
2. Download and open the Proof of Reserves file.
3. Save the downloaded file and address verification tool to the same directory.
4. To verify the ownership of the reserves addresses, please refer to the next chapter "Verify Poloniex's Ownership of the Reserves Addresses".
Verify Poloniex's Ownership of the Reserves Addresses
A Poloniex snapshot must contain the addresses, the message "poloniex", and the signatures. You can verify Poloniex's ownership of the reserves addresses via the following methods.
By Verification Tool
1. Open a terminal program
● Mac/Linux: Terminal
● Windows: Command Prompt
2. Unzip the file and locate to the directory of the downloaded software package. For example, in Downloads, enter the command below:
cd ~/Downloads/proof-of-address
3. Type the following command in the terminal program.
Mac/Linux: ./VerifyAddress --por_csv_filename poloniex_por.csv
Windows: VerifyAddress.exe --por_csv_filename poloniex_por.csv
*Notes: If you use the Mac system and encounter a security setting issue in this step, go to System Preferences -> Security & Privacy -> General -> Click the lock to make changes -> Allows apps downloaded from App Store and identified developers -> Allow the tool.
By Third Party
You can use the following third-party tools to verify Poloniex's ownership of a single reserve address.
● BTC signature verification tool: BTC verifier
● ETH signature verification tool (Arbitrum/Optimism/Avalanche C-Chain addresses supported): ETH verifier
● TRX signature verification tool: TRX verifier
BTC Signature Verification Process:
1. Download and open the Proof of Reserves file.
2. Copy a record entry from the file, including the address, message, and signature (displayed as below).
3. Go to the BTC verifier, and paste the address, message, and signature.
4. If the verification is passed, the following result will be displayed.
ETH Signature Verification Process:
The verification process is the same as that for a BTC single signature. The verification result is shown as the image below.
TRX Signature Verification Process:
The verification process is the same as that for a BTC single signature. The verification result is shown as the image below.
Learn more:
● User Asset Merkle Tree PoR v2.0 Explained
● [PoR] Verification Snapshot Explained
Poloniex reserves the right in its sole discretion to amend, change, or cancel this announcement at any time and for any reason without prior notice. The above is for information purposes only and Poloniex makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on Poloniex.