MEXC releases July proof-of-reserves report as BTC reserve ratio rises 12 percentage points

Global cryptocurrency exchange MEXC has released its July proof-of-reserves report, which was audited by blockchain security and audit firm Hacken. According to the report, MEXC’s July BTC reserve ratio stood at 281%, up 12 percentage points from 269% a month earlier. The reserve ratio was 119% for USDT, 115% for USDC, and 114% for ETH, with reserve ratios for major assets all above 100%. MEXC regularly publishes monthly reserve reports. The exchange said it plans to protect user assets through its futures insurance fund and the parallel operation of a guardian fund holding dual reserves in USDT and BTC.