Rating report
MEXC
Grade B-, 3.3 out of 5
MEXC publishes a proof-of-reserves page stating a reserve-rate methodology and cites a $100m Guardian Fund through a single source; Estonia's financial intelligence unit revoked its VASP licence in November 2023.
By Safety Desk. Facts checked against official sources on .
Findings, check by check
Every KripZen grade comes from the same five weighted checks. Here is how MEXC scores on each.
Proof of reserves 30%
The proof-of-reserves page states a reserve-rate methodology but publishes no figures we could extract; a June 2026 Hacken-audited snapshot at 114–269% coverage is reported by third parties and could not be confirmed against the primary page.
What “Proof of reserves” meansPartial or unaudited
Custody 25%
Cold/hot storage split is not disclosed; we could not confirm it from a primary source.
What “Custody” meansPartial or unaudited
Regulation 20%
Holds FinCEN MSB, AUSTRAC, Canadian MSB and Swiss VQF registrations — AML monitoring obligations rather than exchange licences. Estonia's Financial Intelligence Unit revoked MEXC Estonia OÜ's licence in November 2023, and a June 2024 blacklist entry surfaced in our research without a clear issuing body or stated consequence.
What “Regulation” meansPartial or unaudited
Insurance 15%
A $100m 'Guardian Fund' is cited by a single third-party source and is not confirmed by any primary MEXC disclosure.
Partial or unaudited
Incident history 10%
No confirmed major security incident found in our research.
Disclosed
The weights are the same for every exchange. Read the full methodology
Fees, products and reach
- Spot fees (base tier)
- Not published openly
- Proof of reserves
- PublishedLatest report seen: 2026-05-14
- Products
- Spot, Futures, P2P, Card purchases, Copy trading
- Founded
- 2018
- Not offered under its own terms in
- North Korea, Cuba, Sudan, Syria, Iran, China, Indonesia, Singapore, Venezuela, United States, Canada
Base-tier fees from the exchange’s own fee page. Your real cost depends on order type, volume tier and spread; try your numbers in the Exchange Fee Calculator
Our MEXC review
MEXC scores a B- on a record where almost every item is present in outline and absent in detail. It publishes a proof-of-reserves page with no figures on it, cites a $100m fund nobody else confirms, and holds registrations that are not exchange licences.
What checks out
We found no confirmed major security incident, which on a rubric that weights incident history at 10% is a genuine point in its favour. There is a proof-of-reserves page and it does state a reserve-rate methodology, so the programme exists as a stated commitment rather than as nothing at all.
Where the evidence stops
Almost everywhere else. The reserve page publishes no figures we could extract; a June 2026 Hacken-audited snapshot reported at 114–269% coverage comes from third parties and could not be confirmed against the primary page. The cold/hot storage split is not disclosed. The $100m "Guardian Fund" rests on a single third-party source and is not confirmed by any primary MEXC disclosure — a fund one outlet mentions is not a fund you can rely on. On regulation, the FinCEN MSB, AUSTRAC, Canadian MSB and Swiss VQF entries are anti-money-laundering monitoring obligations, not permissions to run an exchange, and the distinction matters because the first is a filing and the second is supervision. Estonia's Financial Intelligence Unit revoked MEXC Estonia OÜ's licence in November 2023, and a June 2024 blacklist entry surfaced in our research with no clear issuing body or stated consequence, so we record it and do not weigh it.
How to read the grade
The B- is carried by an absence of bad news rather than a presence of evidence. Nothing here has failed; very little here has been shown.
Sources
Every fact on this page comes from one of these official pages, checked on October 20, 2026.
Where to go next
Other exchanges we've graded
How to read these grades: each is derived from published, checkable disclosures — proof-of-reserves attestations, public regulatory registers, disclosed insurance funds and the documented incident record — using the weighted rubric below. Where an exchange does not disclose something, we mark it unverified rather than assume it. These are not audits and not investment advice; they reflect what was published as of our last review. Cryptocurrency investments carry risk, including loss of principal. Nothing on KripZen is financial advice — always do your own research before buying, trading or moving funds.