MEXC says it intercepted 38.66 million USDT connected to suspected theft and fraud during July and August 2026, while restricting more than 20,000 accounts linked to risky activity. The figures were published in the exchange’s July–August security report released on September 16.
215 cases intercepted
According to MEXC, its teams handled 215 reports involving externally stolen or fraud-related funds moving through the platform and successfully intercepted funds in every case. The total amounted to 38,655,490 USDT, with 42 cases involving support for judicial freezes.
MEXC said the number of successfully intercepted cases rose by approximately 2,971% compared with the previous reporting period, while the value of intercepted funds increased by approximately 12,646%. The exchange also said it shared suspicious wallet addresses with other platforms and assisted with fund tracing, verification and freezing procedures through joint investigations and law-enforcement cooperation.
Accounts restricted and funds returned
The exchange identified and restricted 20,752 accounts associated with risk-related activity, an increase of 118.03% from the prior reporting period. It also identified 5,288 risk groups, up 20.35%. The largest concentrations were reported in the Commonwealth of Independent States, with 1,803 groups, followed by Nigeria with 1,099 and Indonesia with 976.
MEXC said it manually reviewed 818 customer requests involving misdirected funds and returned the equivalent of 602,225 USDT. That figure represented a 75.31% increase from the previous reporting period, according to the report.
Insurance fund reaches nearly 792 million USDT
As of September 1, 2026, MEXC’s Futures Insurance Fund held 791,696,422 USDT, up 5.44% from the prior reporting period. The fund is designed to cover negative balances that can arise during liquidations and to reduce the risk of auto-deleveraging during volatile market conditions.
MEXC also reported reserve ratios above 100% for BTC, ETH, USDT and USDC. Its disclosed figures included approximately 288% for Bitcoin, based on 12,312.75 BTC in wallet assets against 4,282.20 BTC in customer assets; 113% for Ether; 115% for USDT; and 114% for USDC. The report said the exchange held 66,227.79 ETH, approximately 1.940 billion USDT and approximately 194.85 million USDC in the relevant reserves.
The exchange said users could review the associated on-chain addresses and verify whether their balances were included through its Merkle Tree proof-of-reserves system. MEXC further said its Guardian Fund uses a dual-reserve structure made up of USDT for liquidity and Bitcoin as a longer-term reserve asset, and that it plans to increase the fund from $100 million to $500 million.
MEXC CEO Vugar Usi said the exchange would continue developing its ability to identify and intercept risk-linked funds, expand cooperation with other platforms and law enforcement, and assist affected users with recovery efforts. The company also said that 184 security incidents across the crypto sector during July and August generated reported losses of approximately $535 million, with phishing, fraud, endpoint and supply-chain incidents accounting for about 48% of the total.
