Hacken Audit Finds MEXC Totally Backed as Exterior PoR Experiences Dwindle

Cryptocurrency alternate MEXC at the moment launched the outcomes of the primary Proof of Reserves (PoR) audit performed by blockchain cybersecurity agency Hacken, as a part of the corporate's new partnership. The report confirmed that the alternate holds enough property to cowl consumer liabilities absolutely and that it continues to prioritise overcollateralised holdings and clear reporting as central pillars of its operational framework.Impartial PoR reporting has change into more and more uncommon throughout the alternate sector, with many giant buying and selling platforms shifting to inside dashboards or discontinuing PoR audits. Binance stopped exterior audits after Mazars halted cooperation in 2022. OKX, Bybit, and Kraken present inside cryptographic proofs or attestations relatively than impartial audits. KuCoin gives an inside PoR dashboard, and Coinbase, regardless of being publicly audited as a listed firm, doesn't publish PoR in any respect.In distinction, the Hacken audit of MEXC gives a full-scope evaluation of alternate’s on-chain and off-exchange liabilities protecting pockets possession, reserve ratios, and consumer obligations throughout a broad vary of networks.  Based on the audit’s outcomes, MEXC’s holdings in BTC, ETH, USDT, USDC, and different supported property exceeded 100% of its corresponding liabilities. The Hacken evaluation additionally validated outbound transactional proofs, confirming MEXC’s cryptographic and operational management over the wallets included within the audit. These have change into an ordinary for exchanges searching for to confirm pockets possession with out relying solely on static snapshots.The audit additionally included a Merkle-tree verification of liabilities, enabling customers and auditors to anonymously verify that their particular person account balances are included within the complete obligations assessed by the reviewer. This construction is extensively considered one of many extra clear approaches to PoR as a result of it offers a technique for reconciling exchange-level liabilities with user-level entries. Nevertheless, adoption has stalled up to now yr on account of technical and operational complexity.The Hacken audit varieties a part of MEXC’s push for better operational transparency for its international consumer base. The alternate has expanded its reserve reporting practices all through 2024 and 2025 to fulfill heightened expectations from customers and regulators for ongoing solvency verification. Within the announcement, the platform revealed that its up to date Proof of Reserve framework offers a “absolutely auditable view” of consumer balances with out exposing private information by counting on anonymized snapshots mapped to publicly seen on-chain holdings.A spokesperson for Hacken said that the audit displays the broader shift towards verifiable transparency amongst crypto exchanges: 
“We’ve seen elevated transparency demand within the crypto business over the previous yr, and the outcomes of MEXC’s audit mirror this shift. In an atmosphere the place belief is constructed solely by verifiable information, MEXC demonstrates its willingness to function transparently and again up its commitments with info, not phrases”. 
MEXC COO Vugar Usi, who joined the alternate earlier this month, stated transparency and solvency verification have gotten commonplace expectations for international crypto buying and selling platforms.  He added:
“At MEXC, we're absolutely dedicated to transparency and safety, and this report as soon as once more demonstrates our unwavering dedication to 100% consumer fund security. Impartial Proof of Reserves audits at the moment are a steady, core commonplace follow inside our operational framework. We'll proceed working with established auditing companies resembling Hacken to make sure our customers have verifiable assurance that their property are absolutely backed”. 
Whereas Proof of Reserves don't seize each factor of alternate danger, impartial verification of asset possession and liabilities is without doubt one of the few instruments out there for assessing solvency with out relying solely on inside claims. Business observers have lengthy debated the necessity for standardized PoR frameworks, however progress has been uneven and sometimes depending on exchanges' voluntary participation. In that atmosphere, complete audits resembling Hacken’s present information factors that stay scarce throughout the market. 

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