Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: bitmover on December 23, 2024, 02:52:51 PM
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https://cointelegraph.com/news/traders-report-frozen-assets-account-blocks-mexc
rypto exchange MEXC has allegedly frozen several traders’ accounts and seized their funds, according to multiple reports on X (formerly Twitter). The exchange claims the actions were motivated by “abnormal trading activities.”
MEXC’s users have been complaining about account restrictions since Dec. 16. On X, the pseudonymous trader Vida revealed a loss of $92,000 in Tether
USDT
tickers down
$0.9986
tokens, following profits from multiple recent trades over 15 days in MEXC’s futures market. “I contacted the support and submitted documents, and then the second day, funds in my account were TOTALLY WIPED OUT along with the order history,” they wrote.
I have some shitcoins there! I will withdrawal all of them now! I will keep you guys informed if I was able to.
I will convert all of them to XRP and move it to my personal wallet , as XRP is easy and cheap to withdrawal, and it is in a nice trend.
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https://cointelegraph.com/news/traders-report-frozen-assets-account-blocks-mexc
rypto exchange MEXC has allegedly frozen several traders’ accounts and seized their funds, according to multiple reports on X (formerly Twitter). The exchange claims the actions were motivated by “abnormal trading activities.”
MEXC’s users have been complaining about account restrictions since Dec. 16. On X, the pseudonymous trader Vida revealed a loss of $92,000 in Tether
USDT
tickers down
$0.9986
tokens, following profits from multiple recent trades over 15 days in MEXC’s futures market. “I contacted the support and submitted documents, and then the second day, funds in my account were TOTALLY WIPED OUT along with the order history,” they wrote.
I have some shitcoins there! I will withdrawal all of them now! I will keep you guys informed if I was able to.
I will convert all of them to XRP and move it to my personal wallet , as XRP is easy and cheap to withdrawal, and it is in a nice trend.
This people are indeed wicked for doing that,what are the terms and conditions given to the users whom account were seized that they failed to follow, what they are doing is even more worst than the the atrocities their some of those users may caused, there is nothing that can be used to justify on the source of peoples fund, and they had better know that fraudulent cant be moderated by them using this approach, they will rather be the one engaging in the same thing they are giving others sanction on.
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Thanks for the warning bitmover
Nowadays I only use exchanges temporarily or with little value
I had 117 dollars there in Solana and I just withdrew it in USDT
Everything went well and quickly
From what I've seen, there are a few cases of users with higher amounts, but MEXC doesn't require KYC and I found it quite strange that they do this.
You can't be too careful :D
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there was an accusation about them a year ago where they stole money from an account. so this will not be surprising anymore if they do it once again.
i have an experience about the MEXC before where i download their app on my phone round 4 years ago. i didn't submit KYC but i bought SHIB in that account. this time i tried logging in, the website sites my email does not correspond to any account. either i downloaded phishing app or they really are stealing.
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https://cointelegraph.com/news/traders-report-frozen-assets-account-blocks-mexc
rypto exchange MEXC has allegedly frozen several traders’ accounts and seized their funds, according to multiple reports on X (formerly Twitter). The exchange claims the actions were motivated by “abnormal trading activities.”
MEXC’s users have been complaining about account restrictions since Dec. 16. On X, the pseudonymous trader Vida revealed a loss of $92,000 in Tether
USDT
tickers down
$0.9986
tokens, following profits from multiple recent trades over 15 days in MEXC’s futures market. “I contacted the support and submitted documents, and then the second day, funds in my account were TOTALLY WIPED OUT along with the order history,” they wrote.
I have some shitcoins there! I will withdrawal all of them now! I will keep you guys informed if I was able to.
I will convert all of them to XRP and move it to my personal wallet , as XRP is easy and cheap to withdrawal, and it is in a nice trend.
If this is to be true, let's not keep this news to ourselves; rather, we should spread the news to our friends who have accounts with the MEXC exchange. This is pure wickedness coming from the MEXC exchange to their users. They want to siphon people's money in this bull run. This can't happen if we begin now to withdraw all the coins we have with them.
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there was an accusation about them a year ago where they stole money from an account. so this will not be surprising anymore if they do it once again.
i have an experience about the MEXC before where i download their app on my phone round 4 years ago. i didn't submit KYC but i bought SHIB in that account. this time i tried logging in, the website sites my email does not correspond to any account. either i downloaded phishing app or they really are stealing.
But what about the app, did you enter in the app again to try and recover your funds?
What's the official answer of MEXC? (of course if you tried to contact them)
I used MEXC for a long time, without any problems, it's not nice to hear that
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there was an accusation about them a year ago where they stole money from an account. so this will not be surprising anymore if they do it once again.
i have an experience about the MEXC before where i download their app on my phone round 4 years ago. i didn't submit KYC but i bought SHIB in that account. this time i tried logging in, the website sites my email does not correspond to any account. either i downloaded phishing app or they really are stealing.
But what about the app, did you enter in the app again to try and recover your funds?
What's the official answer of MEXC? (of course if you tried to contact them)
I used MEXC for a long time, without any problems, it's not nice to hear that
I never had problems there as well.
I have now withdrawal all my funds from MEXC, very quickly.
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Here is the quote on x
https://x.com/cryptonator1337/status/1738614583902757113
CR1337
@cryptonator1337
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 second they blocked the withdrawal function.
It's a disgusting tactic:
1. Luring people who care about their privacy with the fact that there is no mandatory KYC and a generous 30 BTC/24h withdrawal limit
2. Wait for big deposit, freeze the account and demand KYC without giving any reason.
3. Hope that the customer doesn't do KYC and other stuff they could want, like giving Proof of Funds.
4. If successful, just keeping the funds.
Incredible.
some people asked about strong evidence for the claim, but the sender did not respond, I am not a supporter of MEXC but I also want to know what really happened, is this just a joke to get attention, or is it serious? But to identify that it is a serious case, there must be strong evidence...
For those of you who have assets on the CEX exchange, check now, whether it is also problematic or not.. not only on MEXC, but on all centralized exchanges... and those who still have funds on MEXC, it is highly recommended to withdraw them immediately for security...
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I never had problems there as well.
I have now withdrawal all my funds from MEXC, very quickly.
I've never had a problem with MEXC either
I use it and BingX which doesn't ask for KYC
After going through Cryptopia, Celsius, FTX and other local exchanges, I've learned that it's better to withdraw all your coins first and then analyze what's going on.
If there are problems, your coins are safe, if not, just use them again after a few days.
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I've never had a problem with MEXC either
I use it and BingX which doesn't ask for KYC
After going through Cryptopia, Celsius, FTX and other local exchanges, I've learned that it's better to withdraw all your coins first and then analyze what's going on.
If there are problems, your coins are safe, if not, just use them again after a few days.
I even don't use MEXC although it's quite famous for listing many tokens early in the market. Many investors use MEXC to seek profit opportunities when investing in tokens at their early stages and many have succeeded and gained 100x returns on their assets, which makes MEXC even more famous.
Although launched since 2018, MEXC doesn't provide me with the necessary reassurance in this market. I have more reliable options such as Binance, GateIO, KuCoin to experience and use. After referring to this infor, I have even more reasons to avoid MEXC in the future.
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there was an accusation about them a year ago where they stole money from an account. so this will not be surprising anymore if they do it once again.
i have an experience about the MEXC before where i download their app on my phone round 4 years ago. i didn't submit KYC but i bought SHIB in that account. this time i tried logging in, the website sites my email does not correspond to any account. either i downloaded phishing app or they really are stealing.
But what about the app, did you enter in the app again to try and recover your funds?
What's the official answer of MEXC? (of course if you tried to contact them)
I used MEXC for a long time, without any problems, it's not nice to hear that
no i didn't contact them after all the amount was just around $50. i was just trying out the exchange and send few usd. i don't know what to do with amount because they don't want me to withdraw without submitting KYC. so i tried buying SHIB while the price was low. i think that was around 7M SHIB.
you know when you have tons of throw away emails, you just can't remember which one you use to an exchange? that's probably what happened but i tried the usual emails i use for the exchanges i think around 3 of those emails, none of them worked so i quit. with enough motivation, i would sure look for the login if say SHIB price goes $0.01 ;D
because the app didn't work anymore in my phone. maybe it was a scam app.
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Although launched since 2018, MEXC doesn't provide me with the necessary reassurance in this market. I have more reliable options such as Binance, GateIO, KuCoin to experience and use. After referring to this infor, I have even more reasons to avoid MEXC in the future.
For coins such as bitcoin, ethereum, etc there is no reason to use small exchanges such as MEXC.
However, some coins are available to buy only there, and when they reach KuCoin or Gate.io the price has already skyrocket.
It is also interesting with you wanna do trades without any KYC
I even don't use MEXC although it's quite famous for listing many tokens early in the market. Many investors use MEXC to seek profit opportunities when investing in tokens at their early stages and many have succeeded and gained 100x returns on their assets, which makes MEXC even more famous.
That is exactly the reason to use it. I was trying to do that
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I've heard of the exchange from the hunters of new tokens but never used it. I haven't heard/read any issues from them so it appears that only the high volume traders have problems with the exchange and not the regular/casual users. Anyway, as a general rule of mine, don't play too much with these centralize exchanges.
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It's unfortunate to hear such news about MEXC exchange, I have been using it for a long time without any problems, I still have an account there but there are no assets in it and I rarely use the exchange.
They had a good reputation and I don't know why this happened, as I understood from the news they have frozen and closed several accounts and they are refusing to respond to requests from affected traders to return their accounts, this has caused a huge loss of confidence in the exchange and I expect that they will lose a lot of their users.
This highlights once again the danger of putting large amounts of money in centralized exchanges.
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I'm going to use this thread to follow up on a ticket I opened at MEXC
I had already withdrawn all my funds from there after your warning hehehe
However, I needed to make a deposit of 111 dollars in USDT on the APTOS network and MEXC supports this network
I ended up depositing USDT (layerZero) which is a bridge token, instead of the USDT that MEXC uses, so the deposit was “lost”
I opened a ticket and they answered me very quickly, within 2 hours they told me to confirm the deposit address and they would get back to me, but it could take up to 2 months :P
I'll wait and update you when I have new information.
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I opened a ticket and they answered me very quickly, within 2 hours they told me to confirm the deposit address and they would get back to me, but it could take up to 2 months :P
I'll wait and update you when I have new information.
Mexc looks a good exchange
The problem is that i have seen so many exchanges like mexc just disappear with people's money that I am very paranoid now... Mtgox ftx negociecoins are just first ones that comes to my mind.
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https://cointelegraph.com/news/traders-report-frozen-assets-account-blocks-mexc
rypto exchange MEXC has allegedly frozen several traders’ accounts and seized their funds, according to multiple reports on X (formerly Twitter). The exchange claims the actions were motivated by “abnormal trading activities.”
MEXC’s users have been complaining about account restrictions since Dec. 16. On X, the pseudonymous trader Vida revealed a loss of $92,000 in Tether
USDT
tickers down
$0.9986
tokens, following profits from multiple recent trades over 15 days in MEXC’s futures market. “I contacted the support and submitted documents, and then the second day, funds in my account were TOTALLY WIPED OUT along with the order history,” they wrote.
I have some shitcoins there! I will withdrawal all of them now! I will keep you guys informed if I was able to.
I will convert all of them to XRP and move it to my personal wallet , as XRP is easy and cheap to withdrawal, and it is in a nice trend.
Why will they do such, were there terms and conditions that they failed to obey before such actions was taken up on the traders in their exchange platforms? If there is no reason for such an action, then the reputation of the exchange will slowly blur away. When bad reputation of an exchange or any platform goes to X, then it is really not going to be easy if there are more than 2-3 witnesses of same scenario on same platform.
I don't trade there, but this is a red flag to MEXC, it will reduce the interest of new users coming to join their exchange.
A quick safety is needful for those who has big holdings there, they should move it out, something is going fishy about them, except there comes a positive stand from the MEXC team.
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Thanks for the warning, it is no longer a new thing to experience something like this with centralized exchanges, that is why whenever news like this spreads, it is always recommended to move your funds out immediately, even if you believe it is a 'reputable' exchange. So many reputable exchanges have gone bankrupt and collapsed.
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I probably used MEXC at the beginning of their journey, I can't remember exactly, but I probably used them around the time they launched their promotional campaign on the bitcointalk forum.
But even then, I used them until they allowed me to use them without kyc verification. And now I'm avoiding them because they ask me for KYC verification. However, now that I see these news, it seems like I did the right thing.
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I probably used MEXC at the beginning of their journey, I can't remember exactly, but I probably used them around the time they launched their promotional campaign on the bitcointalk forum.
But even then, I used them until they allowed me to use them without kyc verification. And now I'm avoiding them because they ask me for KYC verification. However, now that I see these news, it seems like I did the right thing.
Is MEXC requiring KYC on your account?
Or just suggesting it?
Because at least for me, they only suggest KYC but it's not mandatory
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Is MEXC requiring KYC on your account?
Or just suggesting it?
Because at least for me, they only suggest KYC but it's not mandatory
Yeap they asked me to full fill the KYC verification. I also have a friend that he is also said he don't did the KYC verification even then he can do the withdraw.
I don't know in my case why they ask me KYC verification. Also in a purpose I have a created multiple account on MEXC exchanger on the time maybe that could be also a cause. But what were I just avoid them from that case.
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Thanks for the warning, it is no longer a new thing to experience something like this with centralized exchanges, that is why whenever news like this spreads, it is always recommended to move your funds out immediately, even if you believe it is a 'reputable' exchange. So many reputable exchanges have gone bankrupt and collapsed.
- So it's up to us whether we give our trust to an exchange, because we can't not give our trust or else we won't be able to convert
the crypto assets we hold into our fiat.
So always do your own research before investing money, that's how it is in the world of the crypto industry.
Even on Dex platforms, we should do the same.
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However, I needed to make a deposit of 111 dollars in USDT on the APTOS network and MEXC supports this network
I ended up depositing USDT (layerZero) which is a bridge token, instead of the USDT that MEXC uses, so the deposit was “lost”
I opened a ticket and they answered me very quickly, within 2 hours they told me to confirm the deposit address and they would get back to me, but it could take up to 2 months :P
I'll wait and update you when I have new information.
Just a quick update:
They still haven't returned the USDTs I sent the wrong way, however they are still on time
But the most important thing is that I had to use MEXC again, and I was able to withdraw normally
My account still has no KYC. I made 2 withdraws, on Optimism and Polygon network
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However, I needed to make a deposit of 111 dollars in USDT on the APTOS network and MEXC supports this network
I ended up depositing USDT (layerZero) which is a bridge token, instead of the USDT that MEXC uses, so the deposit was “lost”
I opened a ticket and they answered me very quickly, within 2 hours they told me to confirm the deposit address and they would get back to me, but it could take up to 2 months :P
I'll wait and update you when I have new information.
Just a quick update:
They still haven't returned the USDTs I sent the wrong way, however they are still on time
But the most important thing is that I had to use MEXC again, and I was able to withdraw normally
My account still has no KYC. I made 2 withdraws, on Optimism and Polygon network
Have long time ago not using yet MEXC exchange after stopping from arbitrage trading, right now have KYC regulation for MEXC and its not allow for withdrawing without KYC?
Actually have much experienced with MEXC exchange and not get any problem yet when depositing or withdrawing fund, I have bit problem when deposit shiba inu coins but MEXC have suspend deposit for awhile after deposit opening back receive my coins without get problem, seems abnormal activities such as share by OP looks have difference IP access and make MEXC freeze fund and not ability for withdrawing assets.
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Have long time ago not using yet MEXC exchange after stopping from arbitrage trading, right now have KYC regulation for MEXC and its not allow for withdrawing without KYC?
Actually have much experienced with MEXC exchange and not get any problem yet when depositing or withdrawing fund, I have bit problem when deposit shiba inu coins but MEXC have suspend deposit for awhile after deposit opening back receive my coins without get problem, seems abnormal activities such as share by OP looks have difference IP access and make MEXC freeze fund and not ability for withdrawing assets.
I'm using MEXC without KYC at the moment, and I'm able to do withdraw, no problem
I think right now the KYC is only an option, but not obligated
Bingx is another exchange without KYC (optional), but I like the withdraw fees of MEXC, it's very cheap compared to other exchanges
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Have long time ago not using yet MEXC exchange after stopping from arbitrage trading, right now have KYC regulation for MEXC and its not allow for withdrawing without KYC?
Actually have much experienced with MEXC exchange and not get any problem yet when depositing or withdrawing fund, I have bit problem when deposit shiba inu coins but MEXC have suspend deposit for awhile after deposit opening back receive my coins without get problem, seems abnormal activities such as share by OP looks have difference IP access and make MEXC freeze fund and not ability for withdrawing assets.
I'm using MEXC without KYC at the moment, and I'm able to do withdraw, no problem
I think right now the KYC is only an option, but not obligated
Bingx is another exchange without KYC (optional), but I like the withdraw fees of MEXC, it's very cheap compared to other exchanges
Brother MXEC exchange is a good exchange for our small users to change tokens. But if we see that our big brothers use all exchanges with caution. Especially binance and kucoin exchanges are used more. Because these two exchanges have a lot of hardware and software. You said that you are trading there without doing MEXC exchange KYC, okay you can do it but if at some point you face any problem while trading then what will you do if they want your account details. Then you will have nothing to do. So I think MEXC, BINANCE, KUCOIN, and there are more exchanges, no matter which one we use, we should do KYC with the correct information.... Thank you
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Don't have much money with any centralized exchange, incase they may decide to freeze your account one day for any reason, it will not pain you much because you don't have much crypto asset on it, we should apply this same approach on other forms of centralized exchanges as well, think of using a non custodial wallet and only go for a custodial one for trading purpose, having the danger and risk involved on mind.
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Because these two exchanges have a lot of hardware and software. You said that you are trading there without doing MEXC exchange KYC, okay you can do it but if at some point you face any problem while trading then what will you do if they want your account details.
What does having a lot of hardware and software mean? You mean they have a better system to handle customers requests? Speaking of KYC, the right thing that they could do is to let users withdraw if they don't want to do KYC. Afterall those are their money and them saying they own the money just because you deposit and not do KYC is a crazy rule. What we should do is to encourage others to use other exchanges so the competition will get better, if you don't want to look for decentralized options.
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However, I needed to make a deposit of 111 dollars in USDT on the APTOS network and MEXC supports this network
I ended up depositing USDT (layerZero) which is a bridge token, instead of the USDT that MEXC uses, so the deposit was “lost”
I opened a ticket and they answered me very quickly, within 2 hours they told me to confirm the deposit address and they would get back to me, but it could take up to 2 months :P
I'll wait and update you when I have new information.
Just a quick update:
They still haven't returned the USDTs I sent the wrong way, however they are still on time
But the most important thing is that I had to use MEXC again, and I was able to withdraw normally
My account still has no KYC. I made 2 withdraws, on Optimism and Polygon network
Last update about my ticket
After 2 months and 1 week, they returned my USDT deposit on the APTOS network
However, I had to contact them again after the deadline of February 28th had not been met.
They apologized, mentioned many open tickets and that they would resolve them, but didn't give an estimated time
1 week after the new complaint they returned the funds
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However, I needed to make a deposit of 111 dollars in USDT on the APTOS network and MEXC supports this network
I ended up depositing USDT (layerZero) which is a bridge token, instead of the USDT that MEXC uses, so the deposit was “lost”
I opened a ticket and they answered me very quickly, within 2 hours they told me to confirm the deposit address and they would get back to me, but it could take up to 2 months :P
I'll wait and update you when I have new information.
Just a quick update:
They still haven't returned the USDTs I sent the wrong way, however they are still on time
But the most important thing is that I had to use MEXC again, and I was able to withdraw normally
My account still has no KYC. I made 2 withdraws, on Optimism and Polygon network
Last update about my ticket
After 2 months and 1 week, they returned my USDT deposit on the APTOS network
However, I had to contact them again after the deadline of February 28th had not been met.
They apologized, mentioned many open tickets and that they would resolve them, but didn't give an estimated time
1 week after the new complaint they returned the funds
So does that mean MEXC has resolved your concern issue dude? If so, that's good and the money you have with them has been returned, meaning they still exerted a response to you, now that your problem with them has been resolved, it's still at your discretion if you still want to put the assets that you still want to hide using their platform.
I also have assets there and at the moment I haven't experienced anything bad using their platform, but I hope that the bad experiences of others don't happen to me in the future. But anyway, thank you for creating this topic for awareness for us too of course.
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So does that mean MEXC has resolved your concern issue dude? If so, that's good and the money you have with them has been returned, meaning they still exerted a response to you, now that your problem with them has been resolved, it's still at your discretion if you still want to put the assets that you still want to hide using their platform.
I also have assets there and at the moment I haven't experienced anything bad using their platform, but I hope that the bad experiences of others don't happen to me in the future. But anyway, thank you for creating this topic for awareness for us too of course.
Yes, as I said in my post, the problem has been solved, and I'm still using MEXC, but even though I've only made the mistake once, of sending the wrong coin, I'm going to take extra care so it doesn't happen again
It was “only” 111 dollars, but if I had sent 1000 dollars for example, and ran out of money for more than 2 months, it would be a big problem for me