With real-time wallet transparency, MEXC launches a $100 million fund to shield customers against platform intrusions, hackers, and technical malfunctions.
Cryptocurrency exchange MEXC has launched a $100 million user protection fund to protect its members against significant platform breaches, technological malfunctions, and other grave security risks.
According to the exchange, the fund is set up to reimburse users in significant security events, such as platform infrastructure breaches, serious system flaws, or widespread targeted hacks.
Additionally, MEXC has made wallet addresses associated with the fund available on its website, enabling users to check balances and track fund activity in real-time. Information regarding the fund’s structure, covered scenarios, and active reimbursement cases will also be available via a dedicated web platform.
The fund will provide coverage in situations where MEXC systems are directly compromised or have significant vulnerabilities, the business claims.
MEXC’s chief operating officer, Tracy Jin, stated, “This isn’t just about promises; it’s about accountability and delivering visible safeguards when they matter most.”
MEXC’s fund made to be quickly deployed
According to the exchange, MEXC’s fund is intended for rapid deployment, unlike conventional insurance models, which frequently call for drawn-out claims procedures. The exchange can instantly distribute resources to impacted customers once an occurrence is verified.
A representative said that MEXC’s “dedicated internal team,” which consists of representatives from the risk control, compliance, and security divisions, reviews and approves all pay choices.
They further stated that impacted customers will undergo a manual eligibility evaluation after verifying and reviewing an occurrence. According to the spokesman, “Our internal team will collect all pertinent information and determine the appropriate compensation based on the nature and extent of the loss.”
At the moment, fund management is done internally. The exchange stated that they are looking into joint ventures with respectable third-party auditing and risk control organizations to improve transparency and oversight.
Approximately 2.5 percent of MEXC’s daily trading activity is attributed to the fund. The exchange’s spot trading volume during the last day was $3.98 billion, according to data from CoinMarketCap.
Hacks plague the cryptocurrency market.
The debut comes after several well-publicized security lapses in the cryptocurrency sector.
According to research released in April by blockchain security company PeckShield, hackers stole over $1.6 billion in cryptocurrency in the first quarter of 2025. The majority, more than $1.5 billion, was connected to a single vulnerability allegedly executed by North Korea’s Lazarus Group and targeted the centralized exchange Bybit.
