BYBIT 2026102706 PoR
Transparency Report
Methodology: PoR Stage
Framework
Assessment JSON: 2026102706-assessment.json
1. Summary
| Exchange |
bybit |
| Snapshot |
2026102706 |
| Snapshot time |
2026-10-27T06:00:00Z |
| PoR Stage |
Stage 0 — Trust the Exchange |
| Gen / Evidence |
Gen 1 / E1 |
| Confidence |
low |
| Effective PoR |
false |
bybit snapshot 2026102706 remains Stage 0 in the ardmere public
evaluation set.
Public artifacts do not support independently reproducible global
solvency verification for this snapshot.
2. Stage Decision
Stage 0, not effective PoR
wallet_address_list |
UNVERIFIABLE |
Stage 0 |
No public wallet_address_list. |
3. Frequency and Freshness
| Latest snapshot (evaluation set) |
2026-09-23T03:00:00Z |
| Previous snapshot |
UNVERIFIABLE |
| Observed cadence |
~231 days between snapshots |
| History available |
3 snapshot(s) in public evaluation set |
| Event-triggered updates |
UNVERIFIABLE |
| Daily root / commitment anchor |
UNVERIFIABLE |
| Stage impact |
Monthly or slower cadence; does not meet Stage 2 frequency
expectations. |
4. Evidence and Bundles
Public Artifacts
summarySnapshot |
8fe7cb998465dfdb0f2be8ad662c4880c6098b099e9c92c9b34af0e61371f3a0 |
https://www.bybit.com/x-api/por/public/v1/reserve-ratio/latest |
Bundle References
| Artifact bundle root |
0x7b3625510a187a5f476c09cd37e916b23f72ec1bbc2371a2382b325d8896c5f5 |
| Verification bundle root |
0x8b93005b5808b08d3493cb0687178e1b18279ad8a38990b14500dfcc135c9754 |
| Artifact bundle SHA-256 |
61275b1063e64c845081cc06b66ed9e160a4deacd29b26d48146981797b6416c |
| Verification bundle SHA-256 |
f7121c49d6f91195875c10aba66c0e1fe735ae6508593fa37e1facc8581c1126 |
Local bundle paths: 2026102706.artifact-bundle.json,
2026102706.verification-bundle.v2.json
5. Verifier Evidence
artifact-integrity |
1.0 |
PASS |
1.0000 |
|
solvency-claim |
1.0 |
FAIL |
1.0000 |
|
user-merkle-proof |
bybit-1 |
UNVERIFIABLE |
0.0000 |
myProof.json not present; download from Bybit PoR page while logged
in and import via -user-proof |
internal-consistency |
0 |
UNVERIFIABLE |
0.0000 |
No public wallet address CSV; cannot reconcile summary vs address
aggregates |
btc-anchor |
0 |
UNVERIFIABLE |
0.0000 |
Summary does not declare a BTC block height time anchor |
onchain-balance-hot |
0 |
UNVERIFIABLE |
0.0000 |
No public HotCold wallet address list |
onchain-balance-token |
0 |
UNVERIFIABLE |
0.0000 |
No public wallet address list for ERC20/BEP20 audit |
onchain-balance-ledger |
0 |
UNVERIFIABLE |
0.0000 |
Verifier not available for this exchange snapshot |
address-ownership |
0 |
UNVERIFIABLE |
0.0000 |
No public download channel for wallet ownership signatures /
proofs |
global-zk-proof |
0 |
UNVERIFIABLE |
0.0000 |
Bybit uses pure Merkle Tree (no ZK); user myProof.json proves
inclusion only |
third-party-attestation |
0 |
UNVERIFIABLE |
0.0000 |
Hacken monthly PoR reports are public but not machine-readable in
this pipeline |
cross-chain-wrapped |
0 |
UNVERIFIABLE |
0.0000 |
No per-row wrapped-asset metadata in public PoR artifacts (token
contract, representation type e.g. WBTC/cbBTC, canonical asset, custody
mode) |
6. Verifier Finding Details
This section explains FAIL, WARN, and
UNVERIFIABLE outcomes from the verification bundle.
Row-level UNVERIFIABLE entries often mean the verifier does
not yet support that (coin, network) pair, not that the exchange failed
the check. Full machine-readable output:
2026102706.verification-bundle.v2.json in the local
artifact bundle.
Capability and
artifact gaps (UNVERIFIABLE)
user-merkle-proof |
myProof.json not present; download from Bybit PoR page while logged
in and import via -user-proof |
internal-consistency |
No public wallet address CSV; cannot reconcile summary vs address
aggregates |
btc-anchor |
Summary does not declare a BTC block height time anchor |
onchain-balance-hot |
No public HotCold wallet address list |
onchain-balance-token |
No public wallet address list for ERC20/BEP20 audit |
onchain-balance-ledger |
Verifier not available for this exchange snapshot |
address-ownership |
No public download channel for wallet ownership signatures /
proofs |
global-zk-proof |
Bybit uses pure Merkle Tree (no ZK); user myProof.json proves
inclusion only |
third-party-attestation |
Hacken monthly PoR reports are public but not machine-readable in
this pipeline |
cross-chain-wrapped |
No per-row wrapped-asset metadata in public PoR artifacts (token
contract, representation type e.g. WBTC/cbBTC, canonical asset, custody
mode) |
Row-level findings
solvency-claim
(FAIL)
Finding counts: FAIL 5
FAIL
total |
totalReserveRate |
0 |
0.00 |
self-reported exchange summary only; does not prove reserve
authenticity |
BTC |
reserveRate |
0 |
0.00 |
self-reported exchange summary only; does not prove reserve
authenticity |
ETH |
reserveRate |
0 |
0.00 |
self-reported exchange summary only; does not prove reserve
authenticity |
USDT |
reserveRate |
0 |
0.00 |
self-reported exchange summary only; does not prove reserve
authenticity |
USDC |
reserveRate |
0 |
0.00 |
self-reported exchange summary only; does not prove reserve
authenticity |
7. Minimal Checklist
| Has public PoR been published during the last 12 months? (S0-1) |
pass |
Snapshot 2026102706 is in the public evaluation set. |
| Is snapshot time explicit? (S0-2) |
pass |
2026-10-27T06:00:00Z |
| Is there reserve summary or wallet_address_list? (S0-3) |
pass |
Summary present; wallet_address_list absent. |
| Is wallet_address_list public and on-chain verifiable? (S1-1) |
fail |
No public wallet_address_list artifact. |
| Is wallet_ownership_proof public and batch-verifiable? (S1-2) |
unverifiable |
address-ownership verifier UNVERIFIABLE. |
| Is global_proof public and independently reproducible? (S1-3) |
unverifiable |
global-zk-proof verifier UNVERIFIABLE. |
| Is independent third-party review available with stated scope?
(S1-4) |
unverifiable |
third-party-attestation verifier UNVERIFIABLE. |
| If trusted setup is required, is transcript public; otherwise is the
proof system transparent setup? (S1-5) |
not_applicable |
No global ZK proof in the assessed public artifact set. |
| Is root/proof/vk canonically anchored outside exchange servers?
(S2-1) |
not_applicable |
Stage 2 is not evaluated until Stage 1 blockers are resolved. |
| Is publication frequency sufficient for Stage 2 (weekly full PoR /
daily anchor)? (S2-2) |
not_applicable |
Stage 2 is not evaluated until Stage 1 blockers are resolved. |
8. Recommendations
P0 |
Publish missing public artifacts required for independent
reproduction. |
UNVERIFIABLE |
9. Boundary
This report evaluates public PoR artifacts and reproducibility. It
does not evaluate the exchange’s overall financial health, corporate
governance, internal controls, off-chain assets, legal compliance, or
complete off-balance-sheet liabilities.
Missing data must be marked as UNVERIFIABLE, not treated
as PASS.
Capture notes / gaps
(2026-10-31)
x-api/por/public/v1/reserve-ratio/latest returns
404; public page uses queryHisBalancesInfo
/ queryHisChainInfo (liability/audit-scope amounts
only).- Exact October reserve ratios were not published in
press/Hacken PDF located at capture time — not
invented.
solvency-claim FAIL reflects missing
ratios (rates stored as 0).
- Merkle root not present on public APIs. User
myProof.json login-gated — user-merkle-proof
UNVERIFIABLE.
