← overview

Bunker Tracker

How much of each institution's published Bitcoin reserves sits at addresses whose public key is already public, and how much is still hidden behind a hash.

Snapshot 2026-10-07 22:00:55 UTC · block 970,396 · 00000000000000000000f9392884cb2a3a15d38c84777ce804f20e8b1435a630

Exposure is not a vulnerability today. It measures preparedness against a hypothetical future break of the signature scheme Bitcoin uses.

Addresses

Method and limits

• An address counts as exposed if it is Taproot, has at least one confirmed spend, or the organization published its key or script off chain (for example a signed ownership message). Otherwise it counts as hidden.
• Only addresses the organization itself published or publicly confirmed are tracked. Sources are listed below; Tether's is a news report quoting its CEO, because the original post has not been located.
• Hidden means no known exposure. An address that has never spent could still share a key with one that has, which cannot be checked from outside.
• Not checked yet: mempool spends and keys reused across addresses.
• Organizations differ in what they publish: some list every reserve address, some one wallet, some only one product's reserves. The label on each card says what is covered.
• A falling exposed balance does not prove a migration: funds moved to addresses outside the published list simply leave the tracker.

Sources

• Binance: https://www.binance.com/en/proof-of-reserves
• Bitfinex: https://github.com/bitfinexcom/pub/blob/main/wallets.txt
• OKX: https://www.okx.com/proof-of-reserves/download
• Tether: https://www.bitget.com/news/detail/12560604954891
• Coinbase: https://www.coinbase.com/cbbtc/proof-of-reserves
• Bybit: https://www.bybit.com/en/app/user/reserve-ratio