Safety

MEXC Publishes October 2026 Proof of Reserves Report

October 16, 2026, 10:34 AM UTC (2 hours ago) · 1 source · Summarized by CryptoBipto

Cryptocurrency exchange MEXC has released its proof of reserves report for October 2026. The report is intended to demonstrate that the exchange holds sufficient assets to cover user deposits. MEXC says the release is part of its ongoing effort to provide verifiable transparency to users.

WHY IT MATTERS

When you deposit cryptocurrency on an exchange, you are trusting that exchange to hold your funds safely, much like depositing money in a bank. A proof of reserves report is an exchange's way of trying to show that it actually has the assets it claims to hold on behalf of its users. Think of it like a bank opening its vault to show it has enough cash to cover all deposits. However, these reports have limitations. They typically show a snapshot at one moment in time and may not reveal debts or other obligations the exchange has. This practice became common after the FTX exchange collapsed in 2022, when it was discovered that customer funds were not properly backed.

Proof of reserves (PoR) is a practice adopted by many cryptocurrency exchanges following the collapse of FTX in late 2022, which revealed that the exchange had been misusing customer funds.

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