MEXC and Hacken Launch Monthly Proof of Reserves Audits to Boost Transparency
Global digital asset exchange MEXC has partnered with blockchain security auditing firm Hacken to prioritize transparency and security in the cryptocurrency space. The partnership includes regular monthly Proof of Reserves audits and comprehensive risk assessments of MEXC's platform infrastructure, such as web applications, APIs, and encryption. Hacken's audits confirmed no critical vulnerabilities, and MEXC has resolved all minor issues. MEXC is committed to greater accountability through regular reserve rates verification, boasting over $448 million in its Insurance Fund and $618 million in exchange reserves to protect over 40 million users globally. This initiative aligns with MEXC's larger 'Proof of Trust' campaign, which includes the $100 million Guardian Fund to safeguard users against significant security threats. This partnership establishes new industry standards in security and transparency and aims to rebuild trust in the evolving crypto market.
The Growing Importance of Transparency and Security in Crypto
Transparency and security are becoming the most critical factors in the cryptocurrency space. To address these priorities, the global digital asset exchange MEXC is forming a strategic partnership with Hacken, a prominent blockchain security auditing firm. This partnership involves regular monthly Proof of Reserves audits, demonstrating a robust commitment to safeguarding user assets and maintaining trust amidst increasing market scrutiny.
Comprehensive Security Assessments with Hacken
The collaboration between MEXC and Hacken goes beyond basic safety considerations by setting up a continuous process for reviewing and verifying the security measures on MEXC's platform. Starting from March 2025, Hacken will conduct comprehensive risk assessments across multiple areas of MEXC's platform, including:
- Identifying vulnerabilities in web and mobile applications
- Securing APIs
- Strengthening encryption to prevent data leaks
According to Tracy Jin, COO of MEXC, independent external verification is essential for maintaining user confidence and accountability. Hacken's deep audit revealed no critical or high-risk vulnerabilities, and all minor issues previously found were resolved before the final report was released.
Transparent Proof of Reserves and Financial Stability
MEXC has committed to Proof of Reserves verification with reserve updates published every two months, along with technical security audits. Following prominent exchange failures in the industry, this pledge to transparency addresses one of the most pressing issues—restoring consumer confidence.
- Independent audits confirm that most user assets are stored in cold wallets, reducing exposure to cyber threats.
- By February 2025, MEXC reported $448 million in its Insurance Fund Account, used to cover liabilities exceeding user margins during liquidation.
- The company also disclosed $618 million in exchange reserves, providing additional assurance to its 40+ million users across 170 countries.
Hacken's CEO Dyma Budorin hailed the partnership, expressing excitement about MEXC's initiative to foster a safer ecosystem for users.
Fostering Trust: The Proof of Trust Campaign
The partnership with Hacken is a cornerstone of MEXC’s larger “Proof of Trust” campaign, launched in 2025 to raise new standards for security and transparency in the digital asset space. Key initiatives include:
- The introduction of the $100 million Guardian Fund, which provides protection for users against significant security threats, such as large-scale cyber attacks.
- Increased collaboration across the crypto industry, as seen with KuCoin, which recently developed institutional partnerships to enhance custody and compliance measures.
This campaign highlights the industry's commitment to safety and regulatory compliance, with MEXC allocating significant funds toward security enhancements.
Setting a New Standard for Security in Crypto
MEXC's partnership with Hacken is a paradigm shift in how cryptocurrency exchanges prioritize security. The industry's new norm is characterized by:
- Holistic technical audits
- Transparent reserve audits
- Substantial insurance fund capacity
- Proactive user protection programs
As the world of crypto evolves, independent security audits and proactive user protections will likely become standard practices. This shift will positively impact the digital asset ecosystem, fostering trust and encouraging broader adoption.