MEXC, the crypto exchange that’s either a victim of market madness or a mastermind of manipulation, addresses whistleblower claims. Liquidations? Market volatility! Frozen accounts? Legal orders! 🕵️♂️
Crypto exchange MEXC has responded to whistleblower allegations swirling around social media like a tornado in a teacup. 🌀
The allegations? Manipulated charts, forced liquidations, and frozen accounts. Users claim losses exceeding $8 million, as if they were playing Monopoly with real money. 🏦 MEXC insists these claims are as misleading as a magician’s sleight of hand.
In comments to the LBN team, MEXC addressed cases highlighted by X user Sofia (@alotaibi6613), who seems to have become the Sherlock Holmes of crypto drama. 🔍
Her posts referenced traders like Bogdan (@st88887) and @cryptokijun, whose experiences MEXC attributes to market volatility, not platform mischief. 🎭
– : ~$1k (1,779 XRP) not credited due to a wrong memo. Evidence: on-chain details, Ledger Live screenshots, official Proof-of-Ownership from Ledger; demand for a non-existent “authority letter”, months of ignore. 🤦♀️
– : ~$15k in spike liquidation (frontrun and…
– Sofia ✨ (@alotaibi6613)
MEXC Says Liquidations Followed Market Volatility Rules 🎢
MEXC explained to the LBN team that the cited liquidation cases were caused by extreme market volatility. Their liquidation mechanism? Transparent and uniform rules, they claim. No account manipulation or system malfunction occurred. 🛠️
MEXC added that their compensation policy covers only verified platform failures. Losses caused by market-driven liquidations? Tough luck, pal. 💸
The exchange also pushed back on comparisons with other major exchanges, stating that claims of universal compensation are as misleading as a mirage in the desert. 🌵
According to MEXC, platforms compensate only for qualified malfunction-related cases, not every liquidation event. 📜
Related Reading: Whistleblowers Say MEXC Manipulated Charts and Froze Accounts, Leadership Silent 🤐
Exchange Pushes Back on Compensation Comparisons 💼
MEXC stated that industry practice doesn’t cover all liquidation events. Other exchanges apply similar standards when reviewing compensation requests. The platform said portraying this as refusal to compensate is as accurate as a horoscope. 🌟
The exchange emphasized that liquidation during volatile conditions is not unique. Global market events often trigger sharp price movements, affecting all leveraged traders across platforms. 🌍
Social media discussions intensified after an October flash crash, which caused widespread liquidations across crypto markets. MEXC maintains that its systems functioned as designed during that period. 💻
Account Restriction Tied to Legal Compliance, MEXC Says ⚖️
MEXC addressed the case involving @AkimiIchikawa, stating the account restriction followed a legal request. It denied claims of discretionary or arbitrary action. 🚫
According to MEXC, relevant local authorities issued the request. As a global exchange, MEXC must comply with jurisdictional laws. The platform described such actions as mandatory and non-negotiable. 🌐
The exchange confirmed it formally notified the user of the legal basis. Compliance obligations apply across all regions because, apparently, rules are rules. 📜
The response comes as social media discussions around the allegations continue, proving that in the world of crypto, drama is always in season. 🍿
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2025-12-24 11:04