Top Exchange Reserves Check · 2026-09

Each table heading carries its own read time. Every number can be re-read with tools/cex_reserves_verify.py in this repository; the output snapshot is data/cex_reserves_2026-09-04.json. Source discipline: direct on-chain read > official PoR page > public aggregator > media. The first three go into tables; media is used only as a lead, marked ⚠, and never tabulated. This page makes no judgement about any exchange's solvency; it presents verifiable facts and the differences between sources.

0. Summary

1. Among top exchanges, HTX is the only one holding all four kinds of affiliated assets: a platform token (HTX token), an affiliated stablecoin (USDD), self-issued wrapped coins (BTC-TRC20, HBTC), and JustLend yield receipts (stUSDT/jUSDD). Every other exchange has at most one kind (classification and the three FTX criteria in §4).
2. HTX reports reserve ratios "all above 100%", but on the on-chain-verifiable basis: own-wallet USDT covers only 5.8% of liabilities, BTC 41%, ETH 25.5%; 19.1% of total reserves sit with an undisclosed "third-party custodian", and 47% is TRX, 69% of which is staked.
3. Binance / OKX reserves reconcile on the ETH chain at 95–99%; Bitfinex, Gate, KuCoin and Gemini at 98–101%; all eleven reconcile on the BTC chain (difference ≤1.0%). Every exchange self-reports a reserve ratio above 100%; this report can only verify the part that is readable on chain, and each exchange's verifiable share is in §3.

1. Method: three data layers, trust only the bottom one

Aggregator caliber rules

1. Platform tokens are counted; stablecoins issued or affiliated with the exchange (USDD), self-issued wrapped coins (HBTC / BTCTRON) and Aave deposit receipts are not.
2. The Binance row includes the collateral it locks for BSC pegged tokens ($12.3B), which is not customer assets.
3. Address sets may differ from official PoR lists (HTX: 57 DefiLlama-Adapters addresses vs 11 official).

2. Panorama: top 20 by on-chain reserves (DefiLlama public-address basis, read 2026-09-07 01:08 UTC)

Sample rule: the top 20 by on-chain assets on the DefiLlama CEX board, no discretionary additions or removals; Coinbase / Kraken / Upbit publish no addresses and are not on the board.

• Self-check entry points: the board https://defillama.com/cexs; per-exchange pages https://defillama.com/cex/<slug> (e.g. https://defillama.com/cex/htx, https://defillama.com/cex/binance-cex); the API https://api.llama.fi/protocol/<slug> (per-chain currentChainTvls and token breakdown); DefiLlama-Adapters source https://github.com/DefiLlama/DefiLlama-Adapters/tree/main/projects (address lists or fetch logic live there).

• "Affiliated token" = an asset issued by the exchange or its controller; the uniform red rule is affiliated tokens >30% of reserves.

• "1-year net flow" = the residual change in reserves after removing price effects (positive = net inflow); price baseline from Binance daily closes: BTC −28.0%, ETH −42.9%, stablecoins 0, affiliated/other ≈ −40%.
• ⚠ The Bitstamp row is the aggregator's 09-04 22:30 UTC read; this report's direct read is 39,951 BTC (§3.1).

How to read

• Only two exchanges hold more than 30% of reserves in affiliated tokens: HTX 78%, Bitfinex 32%. LEO is the platform token iFinex issued in 2019 (not a stablecoin; supported by revenue buybacks and burns), in the same class as BNB, OKB, GT and KCS, and flagged by the same rule.
• The remaining 61% of Bitfinex is BTC.
• Bitstamp +121.3% is not an inflow: the aggregator DefiLlama-Adapters's pagination bug was fixed and its address set completed (DefiLlama-Adapters PR #20878, merged 09-04); its BTC read went from 4,180 to 40,167.
• Poloniex +61.1% is not customer inflow: between 2026-05-30 and 06-04, 71,993 stETH, 806M sUSDS and 1,723 WBTC entered Poloniex 9 (the address holding 63% of its reserves) through two Poloniex-published addresses. The stETH leg traces back to HTX address 0x18709E89… (attribution verified in §7); the 1,723 WBTC and 200M of the sUSDS trace to the same address; the other 606M sUSDS comes from an unlabelled hub that mints sUSDS itself, and its HTX origin could not be established on chain. Hop by hop in §7.
• The rest of HTX is 18% BTC (half of it the BTC-TRC20 of §7.2) and 2% ETH; there are no stablecoins on the aggregator's address set. Gemini, Bitstamp and Robinhood are also at 0% stablecoins, which is not a discrepancy in itself; the read of own-wallet USDT on HTX's official PoR list is in §6.2.

3. Direct on-chain reconciliation of published addresses (primary evidence)

§2 is the aggregator's basis; this section is this report reading the chains itself: take each exchange's published addresses (official PoR list or DefiLlama-Adapters source, see tools/cex_addresses.json), read BTC / all ETH assets / Tron per address, then reconcile against the aggregator. Tables are generated by tools/make_tables.py from data/cex_reserves_2026-09-04.json; every address's read and failure record is in that file.

3.1 BTC chain (mempool.space direct read vs aggregator; difference ≤1% green, >5% red)

How to read

• All eleven reconcile (difference ≤1.0%); the aggregator's BTC figures can be cited directly.
• The HTX row is the DefiLlama-Adapters's 11-address list; its official PoR list has 7 addresses holding 8,073 BTC on chain (§6.2).
• The Gate list once contained 3 strings starting with 3P that returned 404 on both BTC explorers; decoded, they are not Bitcoin addresses (35 characters, checksum fails) but Waves-chain addresses from the waves section of the DefiLlama-Adapters (Waves mainnet addresses happen to start with 3P), mis-sorted into BTC by prefix when this report extracted them. They are removed, and the script now validates addresses.
• The last two columns: each exchange's self-reported BTC from its official PoR page (user liabilities / exchange wallets incl. custody; fetched by tools/por_fetch.py, Binance and Bybit entered manually), and the direct read's difference from the reported wallets (percent). Differences over 5% are red with the reason: they come from snapshot dates, address sets (the DefiLlama-Adapters address list is not every wallet on the page) and caliber (HTX counts BTC-TRC20 and custody as wallets), and are not a reserve-check criterion. OKX (134,399 / 148,552, 08-11) and KuCoin (7,441 / 7,985, 08-31) self-report BTC but publish no BTC addresses, so they are not in the table. Bitfinex, Gemini and Bitstamp have no Merkle PoR page and report no per-coin figures; Deribit stopped publishing PoR on 2026-09-01 (90% of client assets moved to Coinbase custody); Crypto.com has a page but its figures are script-rendered and no snapshot has been taken yet.

3.2 ETH chain (Blockscout all-asset direct read vs aggregator; the "aggregator-caliber" column excludes USDD/HBTC/aEthUSDT; coverage 95–105% green, <90% or >110% red)

How to read

• Eight exchanges at 95–101%; the aggregator can be cited.
• HTX's all-asset read of $0.22B exceeds the aggregator's $0.12B; the gap is exactly USDD $45M + HBTC $42M. The aggregator excludes exchange-issued or affiliated assets (§1 rules); on the same caliber it is 108%.
• * Bitstamp 51%: a caliber difference, not an address difference. DefiLlama counts all Beacon-chain staked ETH whose withdrawal credentials point to Bitstamp addresses (≈233k ETH, 8,011 validators) as Bitstamp reserves; this report does not, because staked ETH sits on no published address's balance, and two of the four withdrawal addresses are not on Bitstamp's published list, so the attribution rests on the aggregator's own address table alone. Adding that part back, the two sides reconcile. Independent check: tools/beacon_validators.py (§9).
• The Binance row includes 2 pegged-token lock addresses ($12.3B), not customer assets. "Pegged-token lock" means the native collateral Binance locks on Ethereum mainnet for the Binance-Peg tokens it issues on BNB Chain (BSC versions of USDT, USDC, ETH, etc.); the liability side is the holders of those pegged tokens, not exchange customers. The addresses come from Binance's lockinfo endpoint and are not on its PoR list; a proposal to split them out has been filed with the aggregator (DefiLlama-Adapters PR #20885, pending maintainers).
• "Failed addresses" are all 0 (one OKX address cleared after a retry).
• The last column is each exchange's self-reported ETH (users / wallets, snapshot dates vary). Its caliber is ETH across all chains (L2s, staking receipts and custody included), not the same as this table's Ethereum-mainnet dollar read, so it is shown for reference only and no difference is computed.
• The added "Direct native ETH" column counts only native ETH on Ethereum-mainnet addresses (no stETH-type receipts, no L2), script tools/eth_native_units.py, read 09-05; the PoR ETH wallet figure is all-chain (L2s, staking receipts and custody included), so "Direct native − PoR wallets" is generally negative, shown for reference only and not judged by the §3.1 red rule. Example: of HTX's reported 122,627 wallet ETH, 91,525 is custody and 29,158 stETH, with only 1,504 native mainnet ETH (its GitHub snapshot CSV), the same order as the 11,118 read directly; Binance −18% and OKX −42% mostly reflect multi-chain pages and differing address sets.

3.3 Tron chain (trongrid getaccount with four staking buckets + direct USDT-TRC20 read)

How to read

• The aggregator cannot be cited here. It misses USDT-TRC20 (Bitget's published addresses hold 247M, the aggregator records 0), and its eth_getBalance read excludes staked TRX.
• Tron's "freeze" is its official term for staking TRX with the network in exchange for bandwidth, energy and votes: ownership is unchanged, unstaking can be started at any time and lands 14 days later; it is neither loan collateral nor a platform or judicial freeze. This report says "staked" throughout. Staked TRX can be in four places: V1 stake, V2 self-held stake, stake delegated to other addresses (the TRX still belongs to the address), and the unstaking queue; the "TRX staked" column counts all four. OKX's 517M and Poloniex's 24M are delegated stake, invisible if you only read balance + frozenV2 (§7.1).
• HTX's 18 Tron addresses in the table are the DefiLlama-Adapters's TRX cold wallets; holding no USDT there is normal. HTX's official PoR has 5 separate USDT-TRC20 addresses: 13.24M in the 08-01 snapshot, 1.91M on chain on 09-07 (below 1% of the user USDT liability, the §10 rule; the 11.33M on TK86… has been emptied); the single USDT-ERC20 address went 1.05M → 0. The rest of the 926M user USDT liability sits in "ThirdParty" (§6.2).
• The last two columns are each exchange's self-reported TRX and USDT (users / wallets); USDT is the all-chain total (ERC20 + TRC20 + others) while this table's USDT-TRC20 is one chain, so no difference is computed. HTX's reported TRX wallets of 9,376M are in the same range as this table's 9,692M across 18 addresses (available + staked); of its reported 710M USDT wallets, 656M sit in "ThirdParty" (§6.2).
• "Direct TRX − PoR wallets": direct TRX (available + staked) and the reported TRX wallet are the same chain and caliber, so they compare directly; over 5% is red with the reason, as in §3.1. Gate −92% is an address-set difference (the 11-address DefiLlama-Adapters list; Gate publishes no TRX addresses); HTX +3.4%. No difference is computed for USDT because the reported figure is all-chain.

4. Affiliated tokens as a share of reserves: FTX's three structural preconditions, exchange by exchange

4.1 What FTX's structural preconditions were (⚠ public reporting, used only as the source of the criteria)

FTX's balance-sheet structure before its November 2022 collapse is where this chapter's criteria come from. Note: FTX the exchange never published its own reserve composition; the criteria here come from the balance sheet of its affiliated market maker Alameda, which is not the same basis as the exchange reserve shares in §2 and cannot be compared with them directly. Three points:

• Its own token was the bulk of assets: on 2022-11-02 CoinDesk published the balance sheet of Alameda, FTX's affiliated market maker: of $14.6B in assets, $3.66B was FTX's platform token FTT and another $2.16B was "FTT collateral"; FTT-related items exceeded a third of assets (https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet).
• Its own token had no order book: most of the FTT float sat with FTX and Alameda themselves; market cap was list price times quantity, not money that could be realised. On 11-06 Binance announced it would sell its FTT, and FTT lost 80% over the next three days.
• The liability side was opaque: customer deposits had been diverted to Alameda, and outsiders could not see how liabilities matched assets; withdrawals were halted on 11-08 and bankruptcy filed on 11-11.

The criterion: what is fatal is not "holding your own token", it is all three at once — ① the own token is the bulk of reserves; ② the own token has no order book; ③ the liability side is opaque. Below, every exchange is checked against the same rules.

4.2 By exchange: affiliated tokens as a share of reserves (data as in §2; red rule as in §2: affiliated >30% of reserves)

"Hard assets" = BTC + ETH + stablecoins; whatever the two columns leave short of 100% is other coins (SOL, XRP, etc.).

• Two exchanges are above 30%: HTX 78%, Bitfinex 32%. The difference is in hard assets: Bitfinex holds 68% hard assets, twice its LEO; HTX holds 18%, with affiliated tokens more than four times that. Whether affiliated tokens exceed hard assets is the basis of criterion ① in §4.4.
• The table above is on the aggregator's basis (published addresses only, self-issued/affiliated assets excluded). On HTX's own PoR snapshot basis (§5, §6.2): TRX is 47%, HTX token 5.7%, and 51% of the BTC line is the Poloniex-issued BTC-TRC20 (§7).

4.3 Affiliated assets by nature: four kinds

The table above is arranged by exchange; below is arranged by asset, one block per kind. One exchange's affiliated assets can span all four.

① Platform tokens

② Affiliated stablecoin

③ Self-issued wrapped coins

④ Yield / lending receipts

• Only HTX has all four kinds: platform token + affiliated stablecoin + self-issued wrapped coins + yield receipts from an affiliated protocol.
• The aggregator's basis excludes ② and ③, which is exactly the gap between the "aggregator-caliber" and "all-asset" columns for HTX's ETH chain in §3.2.
• Of the four kinds, only the non-affiliated part of ④ (stETH, WBETH, sUSDS, aEthUSDT) is "someone else's credit"; everything else is "own credit".

4.4 The three criteria, exchange by exchange (exchanges with affiliated ≥10%, plus those publishing per-coin liabilities)

How to read

• ① holds for one exchange only.
• ② on its own does not rank danger: days-to-sell runs from a couple of weeks to tens of thousands of days and must be read with ①; the higher the affiliated share and the thinner the volume, the more the reserves shrink once marked to tradable volume.
• ③ Only Binance, OKX and HTX publish per-coin liabilities; the rest either give a single ratio or have no PoR page.
• No exchange in the top 20 meets all three at once; the closest is HTX: ① holds, ② about 45 days to sell (TRX is the most actively traded of these tokens), ③ liabilities are published but a fifth of reserves sit with a custodian not disclosed on the page. The differences from FTX: TRX has a market-wide order book and FTT did not; HTX publishes a liability sheet and FTX did not. The similarity: reserve value is a function of the price of its own family of tokens.

5. Official PoR side by side (each exchange's page, 2026-08-01 snapshot; red = third-party custody >10% of reserves or own wallets ÷ liabilities <100%, the §10 trigger rules)

6. Discrepancies with self-reported figures (by exchange)

The same reading is applied to every exchange. This section lists the differences between what this report reads and what each exchange reports, each with its verification method; it sets no thresholds, so it uses no colour, only bold for the item.

6.1 Binance / Poloniex

6.2 HTX

Regulatory status (public record; not a reserve-check finding): UK FCDO listed Huobi Global S.A. (alias "HTX (formerly Huobi)") on 2026-05-26, updated 07-07; the EU followed in July, effective 08-23; OFAC has not acted. Source: FCDO sanctions list CSV (primary).

Control group read with the same scripts on the same day

• Binance: 61 BTC addresses, 640,647 BTC on chain (0 failures); 37 ETH addresses $56.4B; USDT-TRC20 897M.
• OKX: 323 ETH addresses $12.9B, 95% of the aggregator (0 failures); USDT-TRC20 273M.

7. Poloniex and BTC-TRC20 (BTCTRON): the Poloniex-linked part of HTX reserves

Poloniex (⚠ public reporting: acquired from Circle in 2019 by an investment group associated with Justin Sun; PoR address list published on GitHub poloniex/tools-nodejs-address-verify, same snapshot block height as HTX):

The HTX → Poloniex fund path (direct on-chain read of Blockscout token transfers; verifiable by address in any explorer)

• stETH: 0x18709E89… (HTX address, attribution below) → 0x7C103bbA… (unlabelled pass-through) → 0x8fCA4adE… (on Poloniex's PoR list) → 0x29065a4C… (Gnosis Safe, on Poloniex's PoR list) → Poloniex 9, 71,993 stETH, all on 2026-05-30.
• sUSDS 200M: on 05-30 from the same HTX address 0x18709E89… → unlabelled pass-through 0x7fed2E5e… → 0x8fCA… → Safe → Poloniex 9.
• WBTC 1,723: on 05-30 from 0x18709E89… → unlabelled pass-through 0xeB245796… → the same path → Poloniex 9.
• sUSDS 606M: on 06-04 from unlabelled pass-through 0x2cf2679A… → 0x8fCA… → Safe → Poloniex 9; upstream of 0x2cf2… is 0x93904eeC…, an unlabelled hub that has minted 1.85B sUSDS from USDS itself since 2026-01; its stablecoin inflows are many-sourced, including small amounts from HTX list address 0xa03400E0… (USDT 50M, USDC 2.5M, DAI 2.7M), with the bulk from a Spark savings vault and other unlabelled addresses. The HTX origin of this leg could not be established on chain.
• Attribution of 0x18709E89… to HTX rests on four independent grounds: ① the huobi entry of DefiLlama-Adapters has listed it as an HTX Ethereum address since 2022-11-13; ② Etherscan-family explorers on other EVM chains (Moonscan, SnowScan) label the same address "Huobi: Recovery"; ③ Hacken's 2023-11 analysis of the Heco bridge incident describes HTX using it to consolidate hot-wallet funds and recovered stolen funds; ④ on-chain behaviour: it sends LINK, ONDO and FLOKI directly to 0x4fb31291…, an address on HTX's official PoR list (2026-07/08), and has over a hundred transfers with HTX list address 0xa03400E0…. It is not among the 11 ETH addresses on HTX's official PoR page.
• Verified: the timing, amounts and path of the three inflows into Poloniex 9; the stETH 71,993, sUSDS 200M and WBTC 1,723 legs all start at HTX address 0x18709E89…. Not established: the HTX origin of the 606M sUSDS (Protos, 2026-08, ⚠ media grade), and whether HTX's "ThirdParty" column includes these assets (HTX does not disclose its custodian). If it does, the same assets appear in both the HTX and Poloniex PoR.

7.1 Poloniex's published TRX addresses: snapshot vs chain, per address (script tools/por_trx_delta.py)

Poloniex's 08-01 snapshot lists 7 TRX addresses (plus 1 sTRX address, which is the TUgSg… among them). Few enough to list one by one; the table is script-generated and can be re-run.

How to read

• Net change over the month −18% (57.78M → 47.30M). The 24.05M on TUgSg… is stake delegated to other addresses (the TRX still belongs to it; only energy/bandwidth is delegated out, and the hot wallet TWhDf… gets its resources from it). Counting it, that address matches the snapshot exactly.
• The real decrease is TSzSg…: 20.39M → 10.16M, of which 11.45M went to the hot wallet TWhDf…; the hot wallet has sent 8,000+ transactions since 08-19 (7,162 USDT contract calls, 838 TRX transfers) and is the user withdrawal channel.
• The sTRX on TUgSg… fell from 50.0M to 39.2M while that address has sent no transaction since 08-01 ⇒ the 10.8M sTRX was moved by an already-approved contract; destination not traced.
• Whether the liability side fell in step over the month has to wait for Poloniex's 09-01 snapshot (as of 09-04 GitHub still shows the 08-01 version).

7.2 BTC-TRC20 (BTCTRON): contract, holders and collateral

BTCTRON is the "BTC" Poloniex issued on Tron in 2020; HTX's PoR books it as BTC-TRC20 inside its BTC reserves. Contract TN3W4H6rK2ce4vX9YnFQHwKENnHjoxb3m9 (tronscan). Everything in the table is an on-chain read.

The above records what we could not find on Poloniex\'s published addresses and PoR page: no asset marked as BTCTRON reserve. Collateral may exist in undisclosed addresses; on-chain search cannot rule that out.

8. Realisability of affiliated tokens: reserve holdings ÷ 30-day average daily volume (measured 2026-09-07; red = affiliated share >30% or staked share >50%, the §2/§10 rules)

In §2 every exchange's "affiliated token" enters reserves at market price. This section asks the same question of each: if it had to be sold, how much can the market absorb per day? Uniform reading: the reserve holding of the token divided by the average daily volume over the last 30 complete days (single-day volume swings widely; the 30-day average is steadier), giving the days needed to sell it all at that pace. Volume is given on two bases: major venues = the spot pair's daily klines summed across whichever of Binance, OKX, Bybit, KuCoin, Gate, Bitget, Kraken, HTX, MEXC and Bitfinex list the pair (primary; venue count in the table); market-wide = the token's volume across all listed venues as recorded by CoinGecko (⚠ third party, venues not individually checked). Days are computed on the major-venue basis; the market-wide figure is reference only, because its bulk usually comes from venues outside the major ten (see reading). ±2% depth (dollar amount fillable at once) is listed for reference. Script tools/affiliated_liquidity.py, readings in data/affiliated_liquidity_2026-09-07.json; holdings follow the §2 reads of 09-07 (reserves × affiliated share); HTX's TRX is this report's direct on-chain read, the HTX token carries last week's figure marked ⚠.

How to read

• Days-to-sell is misleading on its own and must be read with the share: Binance's BNB would take about 177 days, and BNB is only 16% of reserves with 72% in hard assets, which is not a problem; Bitfinex's LEO is 33% of reserves and would take about 26,700 days (about 73 years, the same on both bases), and only when both hold is realisability a problem. The "reserve value" of an affiliated token is price times quantity, not money that can be realised — true for every exchange.
• Why the market-wide basis is reference only: of CoinGecko's TRX volume, the ten major venues account for 16%; the largest contributors are FameEX (12%), WhiteBIT (7%) and Phemex (6.5%), with Binance at only 7%. Of BNB's market-wide volume, major venues account for 27%, Binance 19%, the rest from P2B, CoinUp, BTCC, XT and similar. In both cases the bulk of the market-wide figure sits on venues this report does not check individually. TRX takes about 45 days at the major-venue 30-day average (about 8 on the market-wide basis); HTX's realisability issue is not TRX volume but its share of reserves (47% + 5.7%) and the 69% staked. Bitfinex's LEO is 32% with the other 61% in BTC; Binance's BNB is 16% with the other 72% in BTC, ETH and stablecoins.
• To judge an exchange's ability to pay under stress, mark affiliated tokens to tradable volume rather than market price, then look at hard-asset (BTC / ETH / stablecoin) coverage of liabilities. On that basis (§5 table): Binance and OKX remain ≥100%; HTX's hard-asset coverage is under half.

9. Reproduce

pip install curl_cffi
python3 tools/cex_reserves_verify.py --chain all                                    # all three chains
python3 tools/cex_reserves_verify.py --chain eth --ex okx --retry-failed data/cex_reserves_2026-09-04.json
python3 tools/cex_reserves_verify.py --refresh-addresses                            # re-pull official address lists
python3 tools/beacon_validators.py 0x3262f13a39efaca789ae58390441c9ed76bc658a 0xf666814c2ae92ca0e06667f80dac1eb8a97e48ae 0x5c95a672e34b3252482ed9a215f2926d2887845d 0x88a4df73aac310484c60c4c0ac4904cab938c20b   # count Beacon-chain validators by withdrawal address (§3.2 Bitstamp)
python3 tools/por_fetch.py                                                          # official PoR self-reported figures (§3.1 last column; Binance needs a manually saved page, data/por_manual.json)

Known pitfalls (handled in the scripts): public nodes silently truncate batched eth_call; Tron eth_getBalance excludes staked TRX, use getaccount; trongrid's free tier is 3 rps and silently degrades if pushed; Blockscout has no price for platform tokens, so KCS/GT/BGB are read directly on chain.

10. Monitoring indicators (one set, read per exchange)

The six indicators below are read the same way for every exchange, with the same trigger rules; readings are from the 2026-09-03 snapshot. "—" = not applicable to that exchange (no custody column, no native staking token, no affiliated asset).

Source grades

• Primary: direct on-chain reads; official PoR pages and GitHub lists; the FCDO sanctions list; each venue's public market API.
• Third party: DefiLlama, CoinGecko.
• Media ⚠: Protos, TRM Labs and similar reporting, used only as leads.

Disclaimer

This page is a compilation and cross-check of public data. It is not investment advice and makes no claim about any institution's solvency. All liability-side figures are self-reported by the exchanges and cannot be verified by this report. Every statement here is limited to publicly verifiable data; not finding an asset on the published addresses does not mean the asset does not exist.