Transparency and security are quickly becoming the most important factors in the crypto space. To strengthen this, global digital asset exchange MEXC has established a strategic partnership with Hacken, a leading blockchain security auditing company. This strategic partnership includes regular monthly margin audits, ensuring a strong commitment to protecting user assets. It also demonstrates a commitment to maintaining trust in an increasingly closely monitored crypto market.
Comprehensive security assessment efforts
MEXC and Hacken’s joint efforts go beyond minimal considerations of human life safety and establish a process for continuous review and validation of security measures on the MEXC platform. In an announcement expected in early March 2025, Hacken will provide a comprehensive risk assessment for multiple areas of MEXC’s platform infrastructure. This includes identifying and remediating weaknesses and flaws in web and mobile applications, APIs, and encryption to prevent data leaks.
Tracy Jin, Chief Operating Officer of MEXC, highlighted the exchange’s proactive approach to security, noting that external, independent verification is critical to maintaining user trust and accountability. A detailed audit completed by Hacken found no critical or high-risk vulnerabilities to the security of MEXC’s mobile applications, and all previously identified minor vulnerabilities were resolved before the final report was released.
Transparent proof of reserves and financial stability
MEXC has committed to providing regular proof of reserves with reserve ratios published every two months, as well as technical security audits. This is one of the most pressing issues in business following high-profile exchange failures that destroyed customer confidence. According to independently verified reports, most user assets are stored in cold wallets, with minimal access to cyber threats.
MEXC reported that through February 2025, it had more than $448 million in insurance fund accounts used to cover shortfalls caused by users who suffered losses in excess of their margin balances through liquidations. The company announced that it has acquired approximately $618 million in foreign exchange reserves as additional guarantees for its more than 40 million users in 170 countries. Dyma Budrin, CEO of Hacken, said she is excited about the partnership, saying it demonstrates MEXC’s commitment to protecting users and supporting a secure ecosystem.
Building trust through a proof of trust campaign
The Hacken partnership plays a key role in MEXC’s large-scale “Proof of Trust” campaign, set in 2025 to establish a new standard for security and transparency in the digital asset space. The program also includes the introduction of a new $100 million Guardian Fund, a popular new user protection program on the market. This fund protects consumers during significant security threats, including large-scale attacks and specific attacks.
KuCoin recently established new institutional partnerships to strengthen its custody and compliance measures. This move is a clear sign that the industry as a whole is striving to improve safety and improve regulatory compliance. The exchange plans to allocate more funds to strengthen its security and protection fund by 2025 to improve the rest of the world.
conclusion
This partnership is a true paradigm shift in the way cryptocurrency exchanges prioritize security. MEXC is setting a new standard in the industry by combining comprehensive technical audits, transparent reserve audits, significant insurance funding capacity, and voluntary/automotive user protection. As the world of cryptocurrencies develops, exchanges and independent security audits will become the rule rather than the rule and will ultimately have a positive impact on the digital asset ecosystem.
