MEXC's September 2026 Proof of Reserves Shows 297% BTC Coverage
Audited report confirms full backing of user assets with increased BTC reserve ratio.
1Reserve ratios exceed 100%
MEXC's September 2026 audit shows all major assets fully backed, with BTC reserves at 297% coverage (up from 288% in August). The exchange holds 12,202 BTC against 4,106 BTC in user holdings. USDT, USDC, and ETH reserves also maintain over 100% coverage ratios, with USDT at 119%, USDC at 111%, and ETH at 111% respectively.
2Merkle Tree verification method
The exchange uses Merkle Tree technology for reserve verification, allowing users to independently confirm their balances are included in total reserves without exposing other users' data. This cryptographic method provides transparency while maintaining individual privacy, a critical feature for trust in crypto exchanges.
3Comprehensive audit scope
Hacken's audit covered four key areas: Proof of Liabilities, Proof of Ownership, Reserves Calculation, and PoR Assessment. The audit confirmed MEXC's reserves exceed 1:1 ratio across all audited assets. This multi-faceted approach provides more comprehensive assurance than simple balance checks.
4CEO's transparency commitment
MEXC CEO Vugar Usi emphasized that asset protection and trust-building are fundamental responsibilities, not optional commitments. The monthly PoR publication allows users to verify asset data independently rather than relying solely on company assurances, setting a higher standard for exchange transparency.
5Futures Insurance Fund protection
MEXC maintains a Futures Insurance Fund with approximately 798 million USDT to absorb liquidation losses during extreme market conditions. This additional layer of protection helps safeguard user assets beyond the basic reserve requirements, demonstrating proactive risk management.
6Dual-reserve Guardian Fund
The exchange operates The Guardian Fund, a $101 million dual-reserve structure combining USDT and BTC holdings for full compensation coverage of platform-related issues. MEXC plans to expand this fund to $500 million within two years, showing long-term commitment to user protection.
7Monthly disclosure practice
MEXC has institutionalized monthly PoR disclosures since August 2026, with each report based on a specific snapshot date (September 10 for this report). This regular cadence creates consistent transparency expectations and allows users to track reserve trends over time.
8Industry trust implications
In a sector where confidence has been repeatedly tested, MEXC's multi-layered approach to asset protection (PoR, insurance funds, and compensation reserves) sets a benchmark for exchange accountability. The 297% BTC coverage particularly stands out as exceeding typical reserve requirements.
Original article: NewsBTC — MEXC's September 2026 Proof of Reserves Shows 297% BTC Coverage