MEXC launches the 100 million dollar user protection fund to cover safety violations

Crypto Exchange Mexc has launched a $ 100 million user protection fund aimed at protecting its users from the main platform violations, technical failures or other serious security threats.

The fund has been organized to compensate users in the event of major safety accidents, including the infrastructure violations of the platform or weaknesses in the critical system or widely targeted breaches.

MEXC also published a portfolio associated with the box on its website, allowing users to check the balances and monitor the fund’s activity in the actual time. The designated web portal will also provide information about the box structure, covered scenarios and persistent compensation.

According to the company, the fund will provide coverage in cases where Mexc systems are exposed directly or affected by serious weaknesses.

“This is not only related to promises, but rather to accountability and make clear guarantees when they are more important,” said Trysey Jin, the chief operational officer at MEXC.

Related to: Mexc discovers a 200 % increase in fraud during the first quarter

Rapid publishing designer

Unlike traditional insurance models, which often require long claims, the Mexc Fund is designed for fast publishing, the stock market said. Once an accident is confirmed, the exchange can immediately customize resources for affected users.

A spokesman for Cointelegraph said that all compensation decisions are reviewed and approved by the “allocated internal team” from Mexc, which includes members of risk control, compliance and security departments.

They added that once the accident is verified and reviewed, the affected users will undergo the evaluation of the manual eligibility. The spokesman said: “Our internal team will collect all relevant information and determine the appropriate compensation based on the nature and extent of the loss.”

Currently, the fund management is treated at home. However, the Stock Exchange said that they are exploring partnerships with third -party audit entities and risk control to enhance transparency and censorship in the future.

The box represents about 2.5 % of the daily trading volume in Mexc. Data from CoinmarketCap He appears The Stock Exchange had $ 3.98 billion in the immediate trading volume during the past day.

Related to: 2.1 billion dollars was penetrated in 2025: infiltrators use human behavior

The encryption market suffers from breakthroughs

The launch follows a series of prominent security violations through the encryption industry.

Cut the infiltrators With more than $ 1.6 billion In Crypto during the first quarter of 2025, according to a report issued by Peckshield from Blockchain Security. The majority, which exceeded $ 1.5 billion, was linked to One exploitation of targeting the central stock exchange bybitIt is claimed that the Lazaros group in North Korea.

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