bit.fan
MEXC
1 months agoNews Editor

MEXC CEO says affected user was fully compensated after account security incident

MEXC CEO Vugar Usi has addressed a recent user account security incident, saying the exchange had already flagged the account as abnormal and frozen it before helping the user restore the original email address and two-factor authenticator. According to Usi, funds were still moved out before the situation was fully contained because residual API keys in the account had not been completely removed. He said the platform is still investigating the detailed cause of the incident. Usi also said MEXC does not believe the affected user should bear the loss alone. The exchange has set up a dedicated task force to handle the case and has already provided the user with full compensation.

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MEXC CEO says affected user was fully compensated after account security incident
MEXC
1 months agoNews Editor

MEXC CEO Vugar Usi says zero fees and an everything-market model are reshaping exchange competition

MEXC CEO Vugar Usi said the exchange is building around retail users rather than institutions, arguing that zero-fee trading and broader asset access can change how crypto platforms compete. In an interview with ChainCatcher at Coinfest Asia 2026 in Bali, Usi said his move to MEXC followed years of watching large exchanges lean heavily on institutional volume, with roughly 80% of activity on top platforms coming from institutions. He said MEXC’s focus is different: lower entry barriers for ordinary investors and combine crypto with tokenized stocks, commodities, precious metals, savings products and card-based spending inside one platform. Usi also outlined the business logic behind the company’s fee policy, saying MEXC saved users about $1.1 billion in fees last year, with average savings of about $320 per user and some large traders saving $7 million to $8 million. He said nearly all spot trading on the platform is zero-fee, around 200 futures and digital-asset pairs carry zero fees, and all stocks and tokenized stock products are also zero-fee. On transparency and security, he said MEXC has been publishing proof-of-reserves reports with third-party partners since last November, maintains roughly 160% reserve ratios for BTC and ETH, about 130% for stablecoins, and plans to expand its Guardian Fund from $100 million to $500 million within two years, with 1,000 BTC added as part of that expansion.

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MEXC CEO Vugar Usi says zero fees and an everything-market model are reshaping exchange competition
MEXC
1 months agoNews Editor

MEXC CEO Vugar Usi says exchanges are moving beyond crypto as he calls this "the best bear market"

MEXC CEO Vugar Usi said the exchange wants to move past the idea that a trading platform should only offer cryptocurrencies, laying out a broader "infinite opportunities" vision in an interview with BlockTempo. He argued that the current cycle is "the best bear market" because investors can still find profit opportunities across digital assets, stocks, tokenized assets, oil, semiconductors, gold and other themes instead of being confined to a single market bucket. Usi said MEXC now serves more than 40 million users across over 170 markets and offers 3,000 digital assets and more than 7,000 stocks. He also pointed to lower access barriers as a central strategy, citing zero-fee trading in some markets, lower pricing versus rivals elsewhere, and a SpaceX pre-IPO share offering that drew 80,000 registrations on the platform. On AI, he described the technology as a co-pilot rather than a full replacement for human judgment, saying it can help with technical analysis, order books and data gathering but should not fully control a person’s wealth. He also said MEXC is pushing monthly outside reviews of proof of reserves and putting its Guardian Fund in publicly verifiable wallets as part of a "Trust You Can Verify" plan tied to compliance and transparency.

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MEXC CEO Vugar Usi says exchanges are moving beyond crypto as he calls this "the best bear market"