The Next FTX? MEXC Crypto Exchange Comes Under Fire For ‘Shady’ Activities
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Welcome back everybody to another cryptocurrency news article on this Christmas Eve hope you’re all having a good time as you can tell I’m out of the office I’m back in Cali so I hope you’re all with your loved ones and family as well this day but yeah it’s okay keep
Going over those crypto news articles what’s going on what’s Happening well today the next FTX question mark Mexi crypto exchange comes Under Fire for shady activity so what what’s going on here well let’s find out and dive into this article to learn a little bit more
So here we go so the next f PX cell’s based crypto exchange mexc has come under Fire for allegedly locking users out of their accounts and seizing their funds these actions which The Exchange claims were motivated by abnormal trading activities have sparked concerns from the crypto Community many users
Have flocked to social media platform X in recent days to accuse Mexi of locking them out of their accounts seizing their funds and failing to respond to support requests now the allegations of mexc locking users out of accounts Mexi users have recently come forward with some disturbing accusations against the
Exchange the accusation which sted which started on December 16th coupled with the lack of response from XC have had crypto investors wondering about the Shady activities of the exchange now according to a post on social media platform X by a Trader known as Vita the Shady activity led to his account being
Locked out his $92,000 trading profit Frozen and the order history wiped out to make matters worse The Exchange support failed to provide a Val explanation for the account seizure only claiming abnormal trading activity on the account vaita backed up this claim with screenshots of his conversation with mexc support where the exchange
Acknowledged the account closure and the outcome of the investigation conducted by the team now it would seem this trend has been going on for a while now with various other users complaining of them being locked out of their accounts vaita also shared screen shots of the exchange’s telegram Group which showed
Similar complaints from the users here’s that uh expost from vaita Mexi is going Shameless mode these days many users have complained on X that their funds are frozen and taken I got wiped out for 92,000 usdt too I made my profit through several new trades 5x my bag on Mexi
Futures in 15 days and then my account was frozen so H now the possible explanation while explaining further vaita noted a possible explanation for the account closures according to Trader Mexi is involved in a shady activities which included forging its liquidity and Market making the exchange often bets
Against the users trades playing the role of market makers themselves however if a Trader makes too much profit they become a problem for the exchange sometimes the profit and the deficit of the exchange has to pay the trader and is so big that it closes the account and forthrightly the trader also posted
Screenshots of the exchange order book which appeared to be thicker than other exchanges including binance however vaita claimed this was forged by The Exchange he ended the thread by urging users to exit the exchange at once as it is currently on its way to ending up
Like FTX to add insult to injury mixd has failed to make any comments on the complaints on social media according to exchange’s terms of service it reserves the right to taking measures in recovering any profits obtaining in violation of its users agreement and privacy policy so okay so guys just uh
Maybe you want to stay away from XC like we we’re always saying the space don’t keep your funds on centralized exchanges sure they’re easy to use you can do much more things like faster trades future trades and whatnot but again you’re sacrificing your self- custody rights to
Hold on to your cryptos sure if you go the D5 route it’s not too it’s not as fast as Central exchange is but you’re in control so that’s a definitely a plus side to that side but again people people people people don’t keep your exch your money on exchanges and uh
Maybe try try the def5 space it may be slower you may you may make the gains you may not but that’s the space we live in so just be careful out there get yourself a crypto only laptop get yourself a treasure just do whatever it has to but just don’t leave your money
On exchanges for something like this to happen but we’ll keep on staying up to date on what’s going on with this but if you guys enjoyed the article smash that thumbs up subscribe to the channel and until next time the crypto sharpa is Out
1 Comment
I tried withdrawing today and it's working fine. It's a fight between exchanges. Nothing much.