MEXC Reports 297% Bitcoin Reserve Ratio for September, Up 9 Percentage Points from August

MEXC has reported a 297% Bitcoin (BTC) reserve ratio for September, up 9 percentage points from August's 288%. According to NewsBTC, MEXC released its reserve report based on a snapshot taken as of September 10, showing BTC reserves of 12,202.13 BTC and user holdings of 4,106.57 BTC.

The reserve ratio calculation indicates that MEXC's Bitcoin reserves are approximately 2.97 times the amount held by users. The report also includes reserve ratios for other major assets: USDT reserves at $181,820,2910.24 with user holdings of $1,526,526,878.38 (119% ratio), USDC reserves at $299,925,929.77 with user holdings of $269,894,125.25 (111% ratio), and Ethereum (ETH) reserves at 58,917.60 ETH with user holdings of 53,243.98 ETH (111% ratio).

MEXC explained it uses Merkle Tree technology to allow users to verify if their balances are included in the reserve calculations. The report includes debt proof, asset ownership verification, reserve calculation, and Proof of Reserves (PoR) assessment. Hacken served as the audit firm for this report.

However, MEXC's official September report page and Hacken's audit document have not been publicly verified yet. Therefore, the 297% ratio and audit scope should be considered provisional until confirmed by the original documents. The reserve ratio does not indicate full debt coverage or legal responsibility for all assets, nor does it account for asset fluctuations after the snapshot date or excluded assets.

MEXC previously reported BTC reserves at 288% in August, down from 281% in July. While the BTC reserve ratio has increased month-over-month (July: 281%, August: 288%, September: 297%), this trend alone does not reflect MEXC's overall financial health or user asset recoverability. Comparing monthly figures requires verifying whether reporting dates and audit scopes remain consistent.