MEXC Crypto Exchange Faces Backlash Over Freezing Accounts. According to several claims made on Twitter, the cryptocurrency exchange MEXC has restricted the accounts of many traders and taken their funds. The statements made by the deal indicate that “abnormal trading activities” were the impetus for implementing these measures.
Since the 16th of December, users of MEXC have been complaining about the limitations placed on their accounts. As a result of the numerous transactions that have taken place in the futures market of MEXC over the past fifteen days, they are profiting from these gains. A trader named “Vida,” who remains anonymous, revealed on Twitter that they had lost $92,000 worth of USDT tokens.
Risk Management System
As the MEXC support crew admitted that their risk management system had identified a problem with the transactions, Vida’s photographs reveal that the exchange personnel investigated the subject.
By the statement that MEXC issued:
Regarding the account limits and concerns that you have brought up in relation to futures trading and assets, our risk control system and the individuals who are responsible for it have carried out an in-depth investigation. It has come to our attention that your account and the accounts associated with it have been subject to trading activity that are consistent with the usual. In order to recoup the damages that have been incurred, we have taken the necessary steps in accordance with the conditions of use.
Over the past few days, several traders have published reports that coincide with this perspective. An individual whose account has been unreachable since September asserts that the exchange froze their account because of a deal worth $8,000 more than the amount of the trade. MEXC Crypto Exchange Faces The user claims that other MEXC traders have experienced a problem comparable to this one in the most recent weeks.
In terms of service for MEXC, it is stated that the exchange has the authority to investigate any suspected violation of this Agreement without previous notice or consent, with the sole intention of determining whether or not a breach has happened and then taking appropriate action by the applicable regulations.