MEXC Blocks Over $38 Million in Risk-Related Funds Amid Crypto Industry Security Incidents

MEXC's July-August security report reveals impressive results in intercepting risk-related funds. The platform successfully intercepted all 215 reports involving risk-related funds, totaling approximately $38.66 million USDT. This is a significant increase from the previous reporting period, with a rise of 2,971% in the number of cases and 12,646% in the value of intercepted funds.

The total balance of MEXC's Futures Insurance Fund reached $792 million USDT as of September 1, providing a risk buffer during extreme market conditions. The reserve ratios for major assets such as BTC, ETH, USDT, and USDC remained above 100%, with BTC holding an impressive ratio of approximately 288%.

MEXC's CEO Vugar Usi emphasized the importance of trust in the industry, stating 'Trust is the true reserve currency of this industry.' He added that protecting user assets means moving decisively when risk emerges and giving users a verified way to check their balances. The platform plans to expand its Guardian Fund from $100 million to $500 million to further strengthen user asset protection.