MEXC Addresses Missing Funds Concerns Amidst Allegations of ‘Clawbacks’
The MEXC exchange denies any accusations that it has arbitrarily confiscated customer money.
According to a Coin Telegraph report, several MEXC users have recently complained on social media of random “clawbacks” or centralized withdrawal freezes and liquidations of funds.
User “Al Gore Rhythms” had $33,658 deducted from his spot account. When he pressed customer service about the deduction, a representative told him that MEXC had “taken measures to recover the losses incurred” due to “abnormal trading activities.”
Al Gore Rhythms shared some supporting evidence with the publication to back his claim that the exchange had deleted transactions from his transaction history, but it was not able to entirely verify his claims from them.
There have been reports of MEXC freezing customer accounts and seizing funds at least since early May when crypto fan @cryptonator1337 tweeted that several people he knew were affected.
The number of people getting problems with @MEXC_Official in the last few weeks is huge.
They also froze the account from a friend of mine.
He deposited BTC worth low six-figures in USD, bought XMR, and tried to withdrawal. The first withdrawal went out, however, after the…
— CR1337 (@cryptonator1337) December 23, 2023
More allegations of arbitrary MEXC customer clawbacks came at the end of February, with a tweet that the exchange promptly replied to. The tweet included a screenshot provided by trader CoackKCrypto who claimed the exchange pilfered him for $330,000 “due to abnormal profit”.
Dear Valued User,
Please be assured that users engaging in normal trading activities will not be affected. Should there be any concerns regarding our risk control measures, you are welcome to apply for an appeal. Our customer service
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