MEXC exchange CEO deactivates Twitter account amidst fraud allegations

MEXC is a fast growing cryptocurrency exchange but lately the exchange has come into limelight due to severe fraud allegations. The CEO of MEXC has deactivated his X (Twitter) account.

mexc scam

One of the allegations is restricting withdrawals. Since last week, if you deposited funds on the MEXC exchange and tried doing a withdrawal, you were shown a message saying, “To ensure the safety of your funds, after completing a crypto purchase, there may be a 72-120 hour restriction in the withdrawal and transfer of your deposits (other functions are not affected).

Two hours back, MEXC did tweet out a response to address the rumors but the CEO still has his account deactivated and most users still cannot withdraw their funds. Not only that, myriad screenshots and emails with the customer service that people’s funds were frozen and liquidated. Are they photoshopped? We think not.

Tweet from aforementioned user had his funds wiped out along with order history. The support did not help him much either and blamed him for doing abnormal trading on MEXC.