Seychelles-Based Crypto Exchange MEXC Rejects ‘Baseless’ User Asset Freeze Claims

December 27, 2023 | by


The Seychelles-based cryptocurrency exchange, MEXC, has firmly denied accusations of freezing users’ accounts and erasing their profits, dismissing them as baseless claims made by individuals with ulterior motives. In a statement, the MEXC team expressed their opposition to attempted defamation and false narratives, hinting at the possibility of initiating legal action against those responsible for spreading rumors. Media reports have highlighted disgruntled users who allege that MEXC wiped out their profits and relevant trade history. One such user claims to have lost access to 92,000 USDT stablecoins when their account was allegedly frozen by the exchange. Despite MEXC’s strong rebuttal, some users have reported unsuccessful attempts to withdraw funds, perpetuating concerns about the exchange’s practices.

Seychelles-Based Crypto Exchange MEXC Rejects ‘Baseless’ User Asset Freeze Claims

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Baseless Claims

The claims that MEXC, a Seychelles-based cryptocurrency exchange, is unilaterally freezing users’ accounts or wiping out their profits have been described as baseless by the exchange. According to the MEXC team, these claims are being propagated by individuals with ulterior motives. In a statement, the MEXC team strongly rebutted these allegations and expressed opposition to attempts to defame the exchange or spread false narratives. They even mentioned the possibility of taking legal action against those behind these rumors.

Rebuttal from MEXC team

The MEXC team has vehemently denied the allegations and stated its commitment to users. They emphasized that MEXC has consistently upheld the principle of “Customer First” since its establishment. The team is dedicated to safeguarding the interests of users and cultivating project partners. They expressed their gratitude for the trust and support that users have consistently placed in MEXC. Additionally, they urged everyone to exercise caution and not blindly believe rumors or spread false information.

Possible legal action

In response to the baseless claims made against them, the MEXC team has warned that they may take legal action against those responsible for spreading false narratives. By considering legal proceedings, MEXC aims to protect its reputation and ensure the truth prevails. This approach emphasizes the seriousness with which MEXC views these allegations and its commitment to defending its name.

Users Urged to Refrain From Spreading False Information

Despite the baseless claims circulating about MEXC, the exchange remains committed to its users’ welfare. In a statement, MEXC warned users not to spread fake news about the exchange. They emphasized that MEXC has always prioritized the principle of “Customer First” and is dedicated to safeguarding user interests. MEXC expressed gratitude for the trust and support received from users and urged everyone to exercise skepticism when faced with rumors, avoiding the dissemination of false information.

MEXC’s commitment to users’ welfare

MEXC has consistently prioritized the welfare of its users since its establishment. This commitment is reflected in their adherence to the principle of “Customer First.” MEXC aims to provide a secure and reliable platform for users to engage in cryptocurrency trading. By ensuring user satisfaction, MEXC seeks to foster long-term relationships with its customers and project partners. This dedication to user welfare sets MEXC apart as a trustworthy and reliable crypto exchange.

Warning against spreading fake news

In light of the baseless claims made against MEXC, the exchange has issued a warning to users about the dangers of spreading fake news. MEXC acknowledges that false information can damage its reputation and cause unnecessary panic among users. By urging caution and skepticism, MEXC seeks to encourage users to verify information before believing or sharing it. This warning aligns with the exchange’s commitment to providing transparent and accurate information to its users.

Disgruntled Users and Allegations

Several media reports have highlighted complaints from disgruntled users regarding their experiences with MEXC. These users have raised allegations of profit wiping and the loss of access to USDT stablecoins. One user, Vida, shared their ordeal on social media, claiming to have lost access to 92,000 USDT stablecoins when MEXC allegedly froze their account. However, MEXC has strongly denied these allegations and emphasized their commitment to user welfare.

Media reports on users’ complaints

Media reports have shed light on the grievances expressed by some MEXC users. These reports have captured the concerns and frustrations of users who claim to have had negative experiences with the exchange. While media coverage can play a critical role in highlighting user issues, it is essential to consider multiple perspectives and rely on verified information before forming judgments. The MEXC team’s response to these allegations is an important part of the overall narrative.

Accusation of profit wiping

Among the allegations raised by disgruntled users, some claim that MEXC has wiped out their profits. These users have voiced concerns about the apparent loss of their trade history and the impact it has had on their financial interests. MEXC categorically denies engaging in any activities that would result in the wiping out of profits. They assert that such allegations are baseless and unfounded. MEXC maintains that it is focused on serving its users and maintaining their trust.

Loss of access to USDT stablecoins

Another complaint from disgruntled users revolves around the loss of access to their USDT stablecoins. Users have reported freezing of their accounts, leading to an inability to transact or withdraw their stablecoin holdings. This loss of access has caused financial distress and raised concerns among affected users. MEXC has acknowledged these complaints but refutes any involvement in freezing user accounts or impeding access to funds. They continue to work towards resolving the issues faced by their users.

User’s Ordeal

A user named Vida has shared their personal experience regarding MEXC’s alleged freezing of their account and subsequent loss of access to 92,000 USDT stablecoins. Vida encountered difficulties in recovering their funds, facing resistance from MEXC’s support team, who cited abnormal trading activities as the reason for the account freeze. This ordeal highlights the frustrations faced by some users and their struggle to obtain resolution. However, it is important to consider all perspectives and verify information before forming conclusions.

User’s statement on X

Vida, a disgruntled user, took to social media to share their experience with MEXC. Their statement detailed the freezing of their account and the subsequent loss of access to a significant amount of USDT stablecoins. Vida expressed frustration with MEXC’s support team, who cited abnormal trading activities as the reason for the frozen account. Their statement serves as an important user perspective in the overall discussion surrounding MEXC’s alleged actions. MEXC acknowledges these concerns and continues to address them.

Failed attempts to recover funds

Following the alleged loss of access to USDT stablecoins, Vida made several failed attempts to recover their funds. MEXC’s support team reportedly provided explanations that linked the frozen account to abnormal trading activities. However, despite these explanations, Vida was unable to regain access to their funds. The unsuccessful attempts to recover funds raise questions about the effectiveness of MEXC’s resolution process. MEXC recognizes the need to improve these processes and address user concerns promptly.


MEXC’s Commitment to Users

MEXC’s guiding principle of “Customer First” forms the foundation of its commitment to users. Since its establishment, MEXC has made user satisfaction a priority and is dedicated to safeguarding their interests. Through the provision of a secure and reliable trading platform, MEXC seeks to create a positive user experience. This commitment extends to cultivating strong partnerships with projects and continuously improving user support and services. MEXC values the trust and support of its users and strives to meet their expectations.

Safeguarding user interests

As part of its commitment to users, MEXC emphasizes the importance of safeguarding their interests. This includes protecting user funds and ensuring a transparent and fair trading environment. MEXC employs robust security measures to mitigate the risk of unauthorized access or fraudulent activities. Additionally, MEXC complies with relevant regulations and industry best practices to ensure the safety and integrity of user assets. By prioritizing user interests, MEXC aims to instill confidence and trust among its user base.

Appreciation of trust and support

MEXC highly values the trust and support placed in them by their users. The exchange recognizes that its success is directly tied to the confidence users have in its platform and services. MEXC acknowledges the responsibility that comes with this trust and appreciates the continued support from its user community. The exchange remains committed to maintaining transparency, addressing user concerns, and actively improving its offerings based on user feedback. The trust and support received by MEXC motivate the team to continuously strive for excellence.

Warning Against False Information

To address the spread of false information, MEXC advises users and the public to exercise skepticism when faced with rumors. The exchange acknowledges that false narratives can harm its reputation and cause unnecessary panic. By urging caution, MEXC emphasizes the importance of verifying information before believing or sharing it. This warning aligns with MEXC’s commitment to providing transparent and accurate information to users, ensuring their well-being is not compromised by misleading or inaccurate claims.

Encouraging skepticism of rumors

MEXC encourages users to adopt a skeptical mindset when it comes to rumors or unverified information. This skepticism allows users to critically evaluate claims and seek reliable sources to validate information. By engaging in responsible information consumption, users can make informed decisions and avoid being misled. MEXC believes that fostering a culture of skepticism promotes a healthier and more reliable information ecosystem within the cryptocurrency community.

Discouraging spreading false information

In addition to encouraging skepticism, MEXC actively discourages the spreading of false information. The exchange recognizes that false information can cause panic, damage reputations, and undermine the trust between the exchange and its users. By discouraging the dissemination of false information, MEXC aims to foster a responsible and informed community that values accuracy and reliability. This stance contributes to building a trustworthy environment for users to engage in cryptocurrency trading.

Disavowal of Impersonation

MEXC has officially disavowed an account impersonating its CEO. The impersonation was detected on social media platforms, and MEXC promptly clarified that the account does not belong to their CEO. To ensure the accuracy of information, MEXC advises users to verify news and updates through the exchange’s official social media channels. By disavowing impersonations and encouraging verification, MEXC aims to protect users from fraudulent activities and maintain open lines of communication with its user community.

Verification through official social media channels

To combat misinformation and impersonations, MEXC directs users to rely on official social media channels for authentic updates. These channels serve as reliable sources for accurate information about the exchange, ensuring users receive verified news and announcements. By urging users to verify information through official channels, MEXC emphasizes its commitment to transparency and the timely dissemination of reliable information. This verification process safeguards against misleading or false narratives that may be propagated by malicious actors.

Continued Reports of Unsuccessful Withdrawal Requests

Despite MEXC’s efforts to address user concerns, there continue to be reports of unsuccessful withdrawal requests. Some users claim to be experiencing ongoing issues and delays when attempting to withdraw their funds from the exchange. These reports contribute to an overall perception that MEXC is struggling to resolve user issues effectively. It is crucial for MEXC to acknowledge these reports and provide prompt and satisfactory resolutions to maintain its reputation and user trust.

Users still experiencing issues

The reports of users experiencing ongoing issues with withdrawal requests indicate a need for MEXC to actively address these concerns. The exchange must dedicate resources and processes to ensure timely resolution for affected users. MEXC should consider conducting a thorough analysis of its withdrawal procedures and support systems to identify and rectify any deficiencies that may be causing these issues. By prioritizing prompt and satisfactory resolutions, MEXC can demonstrate its commitment to user satisfaction and mitigate any reputational damage caused by these reports.

Effect on MEXC’s reputation

The continued reports of unsuccessful withdrawal requests can have a detrimental effect on MEXC’s reputation. Users rely on cryptocurrency exchanges to provide secure and reliable platforms for their trading activities. If MEXC fails to effectively address user concerns and provide timely resolutions, it risks losing the trust and confidence of its user base. The negative perception created by these reports may deter potential users from joining the platform, impacting MEXC’s overall reputation in the cryptocurrency community. It is crucial for the exchange to prioritize efficient and effective support systems to mitigate any damage to its reputation.


The importance of verifying information cannot be overstated, particularly in the realm of cryptocurrencies and exchanges. The case of MEXC highlights the potential consequences of baseless claims and the spreading of false information. Users, media outlets, and the general public should exercise caution and skepticism when faced with rumors or allegations. MEXC has firmly refuted the baseless claims made against it and remains dedicated to its users’ welfare. By adhering to the principle of “Customer First” and providing transparent and accurate information, MEXC aims to maintain trust and build a reliable reputation within the cryptocurrency community. It invites readers to share their thoughts and opinions on this story, promoting constructive dialogue and a deeper understanding of the issues at hand.

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