A newly released security evaluation has brought attention to the protective measures implemented by cryptocurrency trading platform MEXC. The review, published on Sunday, outlines the exchange's reliance on withdrawal locks, two-factor authentication, and an instant account freeze function to prevent unauthorized account access.
MEXC's documentation specifies that users can limit withdrawals to a pre-approved list of addresses, with any newly added address facing a mandatory 24-hour hold. The platform also employs anti-phishing codes and allows users to temporarily suspend their own accounts if suspicious activity is detected. For significant security setting changes, the system may impose a 24-hour withdrawal freeze.
The exchange has established a $100 million "Guardian Fund," publicly backed by verifiable wallet addresses, to address specific security incidents. "At MEXC, we take security seriously—and we take action," stated Tracy Jin, the platform's chief operating officer when the fund launched in June 2025.
However, the review notes regulatory limitations, with MEXC explicitly restricting services in the United States, Singapore, Japan, India, the United Kingdom, and South Korea. The platform does not permit user registrations from these jurisdictions.
Industry-wide, proof-of-reserves reports have become a common transparency tool, with competitor Binance recently reporting $162.8 billion in user assets verified through such methods. Nevertheless, the U.S. Public Company Accounting Oversight Board (PCAOB) cautions that these reports are "inherently limited," do not constitute audits, and may not reveal hidden liabilities or loan obligations.
Security analysts emphasize that while exchanges like MEXC offer a range of user controls, the effectiveness depends on client adoption. Furthermore, the regulatory landscape remains fluid, potentially altering market access abruptly and leaving traders to balance current platform convenience against potential future withdrawal risks.
