MEXC May PoR report shows major assets over-collateralized

Global cryptocurrency exchange MEXC has released its May Proof of Reserves report in collaboration with blockchain security audit firm Hacken. According to the report, the reserve ratios for major cryptocurrencies exceeded user deposits, with figures at 293% for BTC, 123% for ETH, 117% for USDT, and 120% for USDC. Hacken stated that it conducted an audit that included verifying the Merkle tree structure, confirming wallet ownership, and assessing the adequacy of reserves, confirming that MEXC's user assets are fully collateralized. MEXC, which publishes its reserve reports monthly, is also in the process of expanding its Guardian Fund for user protection to $500 million. The exchange also recently purchased an additional 1,000 BTC to establish a dual reserve structure composed of USDT and BTC. MEXC announced it will continue to collaborate with Hacken to release regular reports and consistently enhance asset transparency.