MEXC has published its September 2026 proof-of-reserves report, saying an audit by Hacken found that all disclosed major assets were backed at more than a 1:1 ratio at the Sept. 10 snapshot date. The exchange said the report is part of its monthly reserve disclosures aimed at showing coverage of user balances.

Among the assets listed in the report, Bitcoin posted the highest reserve ratio at 297%, up from 288% in MEXC’s August report. The exchange also reported reserve ratios of 119% for USDT and 111% for both USDC and ETH.

Reserve ratios and asset totals

According to the figures released by MEXC, the exchange held 12,202.13 BTC in reserves against 4,106.57 BTC in user holdings, producing the reported 297% ratio. For USDT, it listed reserves of 1,818,202,910.24 against user holdings of 1,526,526,878.38, equal to 119%.

For USDC, MEXC reported 299,925,929.77 in reserves covering 269,894,125.25 in user holdings, while ETH reserves of 58,917.60 were set against 53,243.98 in user holdings. In both cases, the exchange reported a reserve ratio of 111%.

What the audit covered

MEXC said Hacken audited the September proof-of-reserves report and confirmed that reserves exceeded a 1:1 ratio across all in-scope assets, which the exchange said fully covered user liabilities. The Sept. 10 review included Proof of Liabilities, Proof of Ownership, reserves calculation and a broader proof-of-reserves assessment.

The exchange said it uses Merkle Tree technology so users can check that their balances are included in the overall liabilities calculation without exposing other customers’ data. That method is commonly used in reserve reporting to allow individual verification while limiting disclosure of account-level information.

Exchange statements on transparency

In the announcement, MEXC CEO Vugar Usi said protecting user assets and maintaining trust require regular, independently verifiable disclosures rather than relying only on company assurances. He said the exchange intends to continue publishing monthly proof-of-reserves data.

The company framed the report as part of a broader transparency effort after repeated confidence shocks across the crypto sector. The release did not describe any change to withdrawal policy or custody structure beyond the updated reserve figures and audit findings.

Additional protection funds and next steps

Alongside the reserve report, MEXC said its Futures Insurance Fund, which is intended to absorb losses from liquidations during extreme market conditions, held about 798 million USDT as of press time. It also said its Guardian Fund, described as a dual-reserve structure using USDT and BTC for compensation in platform-related issues, stood at $101 million.

MEXC said it plans to keep publishing proof-of-reserves data every month. Based on the latest release, the next confirmed step is the exchange’s subsequent monthly snapshot and audit update, which would show whether reserve coverage levels remain above the 1:1 threshold for the assets it discloses.

Source: www.newsbtc.com