MEXC Announces High-Level Security Deal and $448M Insurance Fund to Strengthen User Protection
MEXC, a well-known for its frequently launched cryptocurrency trading platform, announced a strategic partnership with blockchain security auditor Hacken to take its security to the next level. Hacken is said to be aiming at conducting a comprehensive security audit to protect the platform’s infrastructure from vulnerabilities and cyber threats.
As a way to evolve with the cryptocurrency space, MEXC realizes the importance of security. That’s why Hacken’s role in partnership will focus on conducting comprehensive security assessments to ensure that the platform’s infrastructure remains protected by compromise and cyber threats.
The assessment will cover key areas, including identifying and addressing vulnerabilities in MEXC web applications, mobile applications and APIs. Hacken will also evaluate encryption measures to prevent data leakage, strengthen session management to mitigate hijacking and fixed attacks, and assist MEXC to verify user input disinfection to prevent injection attacks.
Tracy Jin, Chief Operating Officer of Mexc, Commented on the partnership:
At MEXC, the security of our users and their assets is our top priority. Through a strategic partnership with Hacken’s cybersecurity experts, we implement industry-leading security measures that evolve along with emerging threats. This multidimensional approach ensures that MEXC remains agile in responding to market opportunities and security challenges.
Hacker CEO Dyma Budorin, additional:
A reliable trading platform requires a strong security backbone, and at Hacken, we are committed to protecting users and maintaining a secure ecosystem. Through a comprehensive security assessment, we will identify and address potential risks, enhancing MEXC’s defense capabilities to prevent emerging threats.
In addition to partnerships, MEXC continues to provide Reserve certificate Ensure assets are secure and maintain transparency for their users. This feature supports user security during withdrawal operation. The reserve rate is updated every two months and can be used for public verification and auditing.
If negative happens, MEXC claims it has sufficient reserves to cover potential losses. According to the exchange, it allocated more than $448 million through its insurance fund account to cover the deficit when user losses exceed their available margin during liquidation.
Founded in 2018, MEXC serves 32 million users in more than 170 countries and regions. MEXC is known for its wide range of trend tokens, frequent air conditioning opportunities and low transaction fees.
