MEXC taps Hacken for proof-of-reserves audits to boost transparency
Overview
MEXC has partnered with Hacken to enhance its transparency through proof-of-reserves audits. This collaboration will allow the exchange to publish monthly reports that provide independently verified information regarding its asset reserves.
What Happened
MEXC, a cryptocurrency exchange, has announced its collaboration with Hacken, a cybersecurity firm. This partnership aims to conduct proof-of-reserves audits, which will serve as a measure of transparency for users. By engaging an independent third party, MEXC intends to assure its users that their assets are fully backed.
The exchange will release monthly reports that detail these audits, allowing users to have third-party confirmation of the reserve status. This initiative reflects MEXC’s commitment to maintaining trust and accountability within the cryptocurrency ecosystem.
Impact on the crypto market
- Increased transparency may enhance user trust in MEXC.
- Monthly reports can provide users with greater confidence in asset backing.
- The collaboration may set a precedent for other exchanges to adopt similar transparency measures.
- Independent audits could lead to improved security perceptions in the crypto space.
- Enhanced transparency might attract new users to MEXC, potentially increasing its market share.
Updated: 11/20/2025, 10:26:41 AM
