MEXC said it blocked 34 fraud cases involving $4.09 million during January and February 2026, processed 924 user recovery claims, and reported Bitcoin reserve coverage of 266%. The exchange announced the figures on March 9, 2026. They are company-reported claims, not independently verified measurements in the materials reviewed.
What did MEXC’s January–February security report say?
MEXC’s March 9, 2026, announcement covers security activity and reserve figures for the two-month period of January and February 2026. Its reported figures fall into three areas: fraud prevention and recovery, reserve coverage, and the status of two funds. The announcement is an issuer statement; it should not be read as proof that the figures were independently audited or verified.
How much fraud did MEXC say it blocked?
MEXC said its systems blocked 34 fraud cases totaling $4.09 million. It said 26 of those cases progressed through judicial channels. The announcement does not specify what amounts were associated with those 26 cases or define the case-counting method, so the figures do not establish how much money was ultimately recovered or how many cases resulted in legal outcomes.
How much USDT did MEXC say it returned to users?
The exchange said it processed 924 user recovery claims and returned 553,228 USDT in mistaken transfers. These are MEXC’s reported totals for the period; the announcement does not provide a breakdown by claim, transfer type, or outcome.
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What reserve coverage did MEXC report?
MEXC reported the following reserve coverage ratios for four assets:
| Asset | Coverage reported by MEXC |
|---|---|
| Bitcoin (BTC) | 266% |
| Ethereum (ETH) | 112% |
| Tether (USDT) | 117% |
| USD Coin (USDC) | 124% |
These percentages are the exchange’s reported figures, not independently confirmed ratios. In ordinary usage, coverage of 266% would mean reserves equal 2.66 times the relevant holdings or liabilities—but the announcement does not supply the balances, liabilities, snapshot date, or calculation method needed to establish exactly what its ratio measures. It also uses wording about reserves exceeding user holdings that can be read differently from a coverage ratio; the two formulations should not be treated as interchangeable.
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The report’s title and its PR Newswire distribution headline state 266% Bitcoin coverage, while a GlobeNewswire headline renders the figure as 267%. The report body text states 266%, so that is the figure used here.
What did MEXC say about its funds?
MEXC said its $100 million Guardian Fund and Futures Insurance Fund remained operational. The announcement does not provide independent evidence of either fund’s status or balances. The $100 million figure is the size MEXC attributed to the Guardian Fund; it is not a reported balance for the Futures Insurance Fund.
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What the report does—and does not—establish
MEXC said its reserve figures are published in real time and can be independently checked through on-chain proof of reserves. However, the report itself does not set out the underlying asset balances and liabilities, the date of a reserve snapshot, the computation behind each ratio, or an independent assurance report. Those omissions prevent a reader from independently reproducing the reported percentages from this announcement alone.
Anyone comparing this disclosure with another exchange’s report should check whether the same assets and liabilities are included, when the underlying snapshot was taken, how liabilities are represented, and whether an independent auditor or assurance provider attested to the result. The fraud and recovery figures also require like-for-like definitions and reporting periods; headline totals alone do not make reports comparable.
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Read MEXC’s January–February 2026 security report for the issuer’s full announcement. The figures describe a past two-month period and do not establish MEXC’s current reserve position or security status.
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