MEXC Teams Up with Hacken to Bolster Exchange Security Amid Rising Crypto Threats

Cryptocurrency exchange MEXC has partnered with blockchain security firm Hacken to strengthen its defense against emerging cybersecurity threats, the company announced on Wednesday, March 5, 2025. The partnership aims to prevent potential cyberattacks targeting centralized exchanges, a growing concern following recent security breaches in the crypto industry.

Hacken is known for its cybersecurity partnerships with industry leaders such as Consensys’ Layer 2 ZK-Rollup platform Linea and privacy-preserving smart contracts Secret Network in the past. Within this partnership, Hacken will conduct a comprehensive security audit of MEXC’s infrastructure, assessing vulnerabilities across web apps, mobile platforms, APIs, and encryption protocols. Hacken will also evaluate encryption measures to prevent data leakage, strengthen session management to mitigate hijacking and fixation attacks, and assist MEXC in verifying user input sanitization to prevent injection attacks.

“We believe that security is the backbone of a reliable trading platform,” said Dyma Budorin, CEO of Hacken. “Our partnership with MEXC reflects their strong commitment to protecting users and maintaining a secure ecosystem. We will identify and address potential risks, strengthening MEXC’s defenses against emerging threats.”

The move follows the Bybit security breach last month, which resulted in significant fund outflows and renewed fears over the vulnerability of CEXs. According to a study by Chainalysis, in 2024 alone, funds stolen increased by approximately 21.07% year-over-year (YoY) to $2.2 billion, and the number of individual hacking incidents increased from 282 in 2023 to 303 in 2024. As crypto hacks surge, MEXC as a leading crypto exchange realizes the importance of reassuring users of its reliable security as a way to be prepared ahead rather than react only after attacks occur.

Tracy Jin, COO of MEXC, commented on the partnership:  “At MEXC, the security of our users and their assets stands as our paramount priority. Through our strategic partnership with Hacken’s cybersecurity experts, we implement industry-leading security measures that evolve alongside emerging threats. This multi-dimensional approach ensures that MEXC remains both agile in responding to market opportunities and resilient against security challenges.”

If a negative scenario occurs, MEXC claims that it has sufficient reserves to cover potential losses. Beyond security enhancements, MEXC has also committed $448 million to its Insurance Fund Account to cover liquidation losses and maintains a Proof of Reserves system, updated bi-monthly, to reassure users of platform solvency.

As regulatory scrutiny intensifies, exchanges face increasing pressure to prove their security measures are up to standard. MEXC’s partnership with Hacken signals a broader industry shift — where platforms must prioritize security transparency to maintain user trust.

Founded in 2018, MEXC is serving over 32 million users across 170+ countries and regions. MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees.

Focusing on providing security in the crypto ecosystem, Hacken was founded in Kyiv, Ukraine in 2017. It first gained international recognition when it successfully listed the HKN token and secured its international client when HackenProof was launched. 

 

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