Major Cryptocurrency Exchange Responds to Claims of “Financial Difficulties”

The exchange management issued a statement regarding the financial difficulties allegations that have been spreading on social media regarding the MEXC exchange in recent ￰0￱ discussions began when a user's stablecoin withdrawal request worth approximately $3 million was initially rejected but the transaction was later approved following ￰1￱ a statement MEXC defended the allegations as unfounded: “Recently unsubstantiated rumors have been circulating online regarding MEXC’s financial ￰2￱ would like to clearly state that these claims are false and ￰3￱ has a strong financial ￰4￱ user assets are fully collateralized

and our Proof of Reserves (PoR) data shows that major assets are backed by over 100% collateral.” The statement also noted that a transparent proof-of-reserve system with a Merkle Tree structure is used allowing users to independently verify their ￰5￱ stated that the current PoR data will be updated overnight for user ￰6￱ News: US Democrats Propose Anti-Cryptocurrency Bill - Here Are the Details The exchange argued that financial reserve data is available not only on its own website but also from multiple sources such as CoinMarketCap CoinGecko and ￰7￱ also noted that the address of the $100 million Guardian Fund

previously established to protect user assets has been publicly ￰8￱ the end of its statement MEXC included the following statements: All platform operations are continuing as ￰9￱ ask our community to refrain from sharing or engaging with unverified ￰10￱ thank all our users who have followed our official announcements. *This is not investment ￰11￱ Reading: Major Cryptocurrency Exchange Responds to Claims of “Financial Difficulties”