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MEXC Exchange Assures Users of Full Asset Backing Amid Record Withdrawals

Crypto trading platform MEXC states its Proof of Reserves confirms major assets are over 100% backed despite high withdrawal activity.

Summary

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Terms & Concepts
  • Proof of Reserves (PoR): A verification method used by crypto platforms to prove they hold sufficient assets to cover all customer balances.
  • Merkle tree: A cryptographic data structure that enables efficient and secure verification of large sets of data on a blockchain.