From Cointelegraph

June 11, 2025 6:00 am:

Crypto exchange MEXC launches a $100 million user protection fund to cover major security incidents, breaches, and hacks. The fund offers quick deployment of resources to affected users and is managed internally, with plans to enhance transparency through third-party partnerships. The fund accounts for 2.5% of MEXC’s daily trading volume.

The launch comes after hackers stole over $1.6 billion in crypto in Q1 2025, with a major exploit targeting Bybit accounting for most of the losses. Security firm PeckShield reported the breaches. MEXC’s initiative aims to address the ongoing security challenges in the crypto market and protect users from such incidents.

Read more at Cointelegraph: MEXC Launches $100M User Protection Fund to Cover Security Breaches