Cryptocurrency exchange MEXC launches a $100M Guardian Fund to cover users in security breach situations

Cryptocurrency exchange MEXC has announced the launch of a $100M Guardian Fund to cover users in situations of security breaches, hacks, and technical breakdowns.

Cryptocurrency exchange MEXC has announced the launch of a $100M Guardian Fund to cover users in situations of security breaches, hacks, and technical breakdowns.

Announced on June 11, the fund is intended to compensate people who exploit critical vulnerabilities of the platform or become casualties of cyberattacks. The program guarantees that the mobilization of funds takes place quickly to cover losses. The wallet addresses and live balances will also be shown on the website of MEXC, and the project will be focused on transparency. The measure guarantees the user the seriousness of the site regarding security matters.

“This fund does not claim but actual protection,” said Tracy Jin, the chief operating officer of MEXC. A special team consisting of MEXC risk control, compliance, and security departments will govern the operations of the fund.

Transparent and Swift Compensation Process

The 100M Guardian Fund insures against damage that may arise in case of a significant security breach, such as platform compromise and system risk. With the MEXC internal team making the decisions, the pay process will be effective and responsible.

The users can confirm the integrity of the funds with the publicly available information regarding the wallets. This transparency can become a new standard of the crypto industry, the security issues of which are still substantial. The fund has been made in a way that it can act swiftly in taking care of the affected users.

MEXC highly values user security, and it is consistent with its fast development. Since its founding in 18, the exchange has acquired more than 40 million users in 170 countries, and safe and convenient trading is its priority.

Launchpad and airdrop campaigns are such novelties, and they belong to its entire policy of improving the user experience. The Guardian Fund is another reason why MEXC is referred to as a user-first exchange.

Industry Context and User Benefits

Crypto exchanges face increasing scrutiny over security measures. The issue of robust safeguards has come to the forefront due to the high-profile hacks, such as the 2023 Binance hack. The fund provided by MEXC represents a direct mixture of these fears, and therefore, it provides users with peace of mind.

This fund was established as a result of the fact that in May, MEXC had a positive result and increased the number of users by 33 percent to 40 million. The exchange also announced an increase of 46 percent in the volume of trade of new tokens, which contributes to its dominance in the market.

The introduction of the $100M Guardian Fund will establish a new standard of exchange safety by MEXC. The final users get the advantages of a clear response system that is directed to eliminating the financial risk in an uncertain market.

MEXC’s commitment extends beyond this fund. The fact that it has partnerships, such as the latest with The Open Network (TON), indicates that it is an innovation and user experience-driven company.

These prospects of regular airdrops and cheap trading charges on the exchange have kept attracting both new and skilled traders to the exchange.