MEXC Matcha Exchange has not fulfilled the commitment of public reserve certificate, and the reason is not disclosed

On February 21, the community paid attention to the MEXC Matcha Exchange, which said in November 2022 that it would prepare the Merkle tree reserve certificate, and would publish the relevant data in the near future. However, until February 2023, its reserve certificate has not been released. At present, MEXC is also one of the few mainstream exchanges that have not disclosed the reserve certificate, and has not explained the reason why it has not been disclosed. (Wu said)

Interpretation of this information:

The message highlights MEXC Matcha Exchange’s delay in preparing and publishing the Merkle tree reserve certificate promised for November 2022. The community has taken notice of the lack of disclosure and explanation from MEXC, and has raised concerns about the exchange’s transparency and accountability in maintaining the reserve.

Merkle tree reserve certificates are used to demonstrate an exchange’s ability to cover its users’ withdrawals and protect against insolvency or hacks. By failing to release the certificate, MEXC leaves its users uncertain about the exchange’s financial security and, subsequently, may weaken their trust in the platform.

The message also notes that MEXC stands out among mainstream exchanges for not disclosing the reserve certificate, suggesting that other major players in the industry have already demonstrated their preparedness to secure user funds. MEXC may need to act quickly to address the concerns raised by the community and maintain its competitive edge.