- A number of traders have released reports along these lines in the last couple days.
- The exchange asserts that abnormal trading activities were the driving force.
According to many claims on Twitter, crypto exchange MEXC has purportedly restricted the accounts of numerous traders and seized their funds. The exchange asserts that “abnormal trading activities” were the driving force behind the measures.
Ever since Dec. 16, users of MEXC have been griping about account limitations. Following gains from various transactions conducted over the last fifteen days in the futures market of MEXC, the anonymous trader known only as “Vida” disclosed on twitter a $92,000 loss in USDT tokens.
Risk Management System
Vida’s images reveal that the exchange’s employees looked into the matter after the MEXC support team admitted that their risk management system had detected an issue with the transactions.
According to the statement made by MEXC:
“Regarding the account restrictions and issues related to futures trading/assets that you have raised, our risk control system and relevant personnel have conducted a thorough examination. It has been identified that there have been abnormal trading activities in your account and associated accounts. In accordance with the terms of use, we have taken measures to recover the losses incurred.”
A number of traders have released reports along these lines in the last couple days. An individual whose account has been inaccessible since September claims that a $8,000 trade caused the exchange to freeze their account. The user claims that other MEXC traders they know have run with the similar problem in recent weeks.
The MEXC terms of service states that the exchange may, without permission or prior notice, examine any alleged breach of this Agreement, decide unilaterally whether a breach has occurred, and take appropriate action in accordance with applicable rules.
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