MEXC and Hacken: Monthly Proof of Reserves Audits

MEXC, a major global cryptocurrency exchange, has expanded its partnership with Hacken to institute monthly Proof of Reserves (PoR) audits as a regular operating procedure. This change turns their existing security collaboration into a robust transparency framework aimed at providing users with ongoing, independent verification of asset backing.

MEXC has partnered with Hacken to implement monthly, independently verified Proof-of-Reserves (PoR) audits, enhancing transparency for the exchange by providing an external record of reserves that users can verify.

With this approach, Hacken functions as an autonomous auditor, publishing monthly verification reports starting late November. MEXC ensures these are not subject to their intervention, reinforcing confidence in the independence of the process.

Merkle Tree Verification

MEXC users can independently verify the backing of their assets using the exchange's Merkle Tree system, which grants cryptographic proof of reserves without exposing full account information. The latest audit data confirms that major asset reserves remain above 100%, indicating full collateral coverage for all user deposits.

Background and Impact

This move responds to recent cases of exchange failures across the industry, offering more transparency and helping to restore user trust. The partnership marks a significant shift from solely technical security measures to continuous operational transparency, with Hacken chosen for its established track record across more than 1,500 clients, including leading blockchain entities.

The most significant development of this collaboration is the introduction of monthly audits on Proof of Reserves, conducted by Hacken. These audits will complement the PoR infrastructure already offered to users by MEXC, adding an independent and specialized verification.

Hacken brings a blockchain-native approach, using AI-powered security measures and holding respected industry certifications. By publishing results autonomously, Hacken provides users with direct and verifiable assurance about their funds' security and the exchange's reserve status.

Authors' Resume

MEXC’s new partnership with Hacken for monthly independent audits sets a transparency benchmark for the industry, equipping users with reliable, third-party-verified proof that their assets are always fully backed.