MEXC recently published its reserve proof report for February 2024, showing that its cryptocurrency asset reserve levels remain robust. The Bitcoin (BTC) reserve coverage ratio surged from 158% in January to 267%, with the total amount of BTC held in wallets increasing from 6,172.88 to 12,003.98, nearly doubling. The Ethereum (ETH) reserve coverage ratio also rose from 107% to 112%, with reserves growing from 61,729.67 to 73,433.86.
In terms of stablecoins, the USDT reserve coverage ratio stands at 117%, while USDC is at 124%, both significantly above the minimum safety standard of 1:1, indicating ample platform liquidity and asset security.
To enhance transparency and user trust, MEXC regularly publishes reserve proof snapshots audited by the third-party authority Hacken. This system employs Merkle tree technology, allowing users to independently verify the authenticity of their account balances without compromising user privacy. The platform consistently adheres to the principle of prioritizing user assets, building a verifiable and trustworthy asset protection mechanism through ongoing independent audits and public data disclosures. In the future, MEXC will continue its monthly reporting system to promote higher standards of industry transparency.