Global cryptocurrency exchange MEXC has released its May reserve report in collaboration with Hacken, a blockchain security audit firm. According to the report, the reserve ratios for major cryptocurrencies were BTC 293%, ETH 123%, USDT 117%, and USDC 120%, which exceeded user deposit assets. Hacken stated, "We conducted an audit including Merkle tree structure verification, wallet ownership confirmation, and reserve adequacy assessment, and confirmed that MEXC's user assets are fully collateralized." MEXC regularly publishes proof of reserves monthly and is currently working to expand its Guardian Fund for user protection to $500 million. Additionally, it has purchased an additional 1,000 BTC, establishing a dual reserve structure consisting of USDT and BTC. MEXC announced, "We will continue to strengthen asset transparency by publishing regular reports in cooperation with Hacken."
