MEXC Is Under Fire From Users Due to Frozen Assets

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Last Updated on December 24, 2023 by Bitfinsider

MEXC, a cryptocurrency exchange situated in the Seychelles, has come under fire after several complaints from traders concerning frozen assets and account freezes.

The claims, which have been growing since December 16, indicate that the exchange is enforcing its terms of service in a way that users find objectionable. Traders are utilizing platform X to express their concerns and disclose unexpected limits on their accounts after lucrative deals. Vida, a pseudonymous trader, alleges a loss of $92,000 in Tether (USDT) following successful futures market trading on MEXC. Following contact with MEXC’s support team, the trader’s account and order history were purportedly erased.

MEXC’s support team confirmed that their risk control system highlighted Vida’s account, prompting the staff to conduct a comprehensive investigation. The exchange invoked its terms of service to recover the purported losses, alleging “abnormal trading activities” in the account and connected accounts.

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