**MEXC Exchange Addresses Recent Financial Difficulties Allegations**
In response to recent rumors circulating on social media concerning MEXC’s financial stability, the exchange management has issued an official statement to clarify the situation.
The discussions began after a user’s stablecoin withdrawal request, valued at approximately $3 million, was initially rejected. However, the transaction was later approved following public reaction, which sparked widespread speculation regarding the exchange’s financial health.
In its statement, MEXC firmly denied these allegations as baseless and misleading:
“Recently, unsubstantiated rumors have been circulating online regarding MEXC’s financial situation. We would like to clearly state that these claims are false and misleading. MEXC has a strong financial structure. All user assets are fully collateralized, and our Proof of Reserves (PoR) data shows that major assets are backed by over 100% collateral.”
The exchange also emphasized its commitment to transparency through a proof-of-reserve system utilizing a Merkle Tree structure. This system allows users to independently verify their holdings at any time. MEXC confirmed that the current PoR data will be updated overnight to facilitate user verification.
Moreover, MEXC highlighted that its financial reserve data is publicly available not only on its official website but also via multiple reputable platforms, including CoinMarketCap, CoinGecko, and DefiLlama. The statement further mentioned the $100 million Guardian Fund, which was established to protect user assets, and noted that its address is publicly accessible for verification.
Concluding its announcement, MEXC assured users that all platform operations are continuing as normal and requested the community to refrain from sharing or engaging with unverified information.
The exchange expressed gratitude to users who have followed the official communications and included the following reminder:
*This is not investment advice.*
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