MEXC has released its February 2026 proof-of-reserves report, showing reserve ratios above 100% across its main assets. The most notable change was in Bitcoin, where BTC reserve coverage reached 267%, up from 158% in January. Reserve ratios for ETH, USDT, and USDC were listed at 112%, 117%, and 124%.
Bitcoin holdings jumped from January levels
According to the report, MEXC wallet assets totaled 12,003.98 BTC, 73,433.86 ETH, $1.82 billion in USDT, and $93.5 million in USDC. Bitcoin holdings increased sharply from 6,172.88 BTC in January to 12,003.98 BTC in February, driving the rise in BTC coverage. ETH reserves also moved higher, with coverage improving from 107% to 112% as holdings expanded from 61,729.67 ETH to 73,433.86 ETH.
All of the reported reserve ratios remained above the 1:1 backing standard. For exchanges, these disclosures are used to show whether on-chain assets exceed customer liabilities for the covered tokens. The figures matter, but the reporting cadence matters too.
Monthly snapshots and Hacken audit reports remain in place
MEXC said it updates its proof-of-reserves snapshots every month, while independent audit reports are published by blockchain security and audit firm Hacken. The framework uses Merkle Tree technology, allowing users to verify that their balances are included in the exchange’s records without exposing account privacy.
The exchange said it will continue the monthly reporting practice and keep publishing reserve snapshots and audit results. MEXC, founded in 2018, says it serves more than 40 million users across over 170 countries and regions.
The source material was issued as a press release and also carried a risk disclaimer stating that the information does not constitute investment advice. It noted that the cryptocurrency market is highly volatile and that participants should assess market moves, project fundamentals, and financial risks before making decisions.