Traders allege MEXC froze accounts and manipulated data. Over $8M in losses reported. Exchange leadership remains silent on claims.
Cryptocurrency traders are raising serious allegations against MEXC exchange. According to social media posts, users claim losses exceeding $8 million.
The accusations center on unfair liquidations and frozen accounts. Traders say the platform manipulated trading data systematically.
MEXC Victims Report Millions in Frozen Funds
X user Sofia (@alotaibi6613) compiled detailed evidence from affected traders. Her post outlines numerous cases with supporting documentation.
One trader, identified as Bogdan (@st88887), allegedly lost over $82,000. The loss occurred during a flash crash on October 10. He claims liquidation happened at artificially low prices.
Another user (@AkimiIchikawa) reports approximately $4 million frozen for over a year. The platform cited “abnormal trading” as justification. Meanwhile, @cryptokijun documented $39,000 in losses from what he calls a “silent bug.”
The allegations include deleted order histories and falsified export data. Traders provided screenshots, API logs, and price comparisons with other exchanges. Some even submitted complaints to regulators like FSA Seychelles.
Exchange Offers Coupons Instead of Refunds
According to the social media reports, MEXC offered minimal compensation. Affected users claim they received $100 to $300 coupons rather than full refunds.
Sofia’s post contrasts this with competitor responses.
Binance reportedly paid $283 million in compensations for similar issues. Other exchanges like Bybit and OKX also provided substantial refunds.
The October 2025 flash crash affected markets globally. Industry-wide liquidations reached nearly $20 billion. However, traders say MEXC refuses to acknowledge technical glitches.
Related Reading: MEXC Blocks $4.97M in Fraud and Recovers $902K in User Funds, New Report Reveals
Leadership Remains Silent on Growing Complaints
MEXC’s executive team remains active on social media with promotional content. Yet they haven’t addressed the mounting allegations publicly.
Sofia’s post specifically mentions COO Vugar Usi (@usithetalk) and CSO Cecilia Hsueh (@cecilia_hsueh). Customer Support Lead Derrick Yeo (@DerrickYeo61993) also received criticism.
Affected traders report receiving only template responses.
Some cases remain unresolved after months or years. The social media movement #JusticeForBohdan has gained traction among complainants.
MEXC has not issued an official statement addressing these specific allegations. The exchange’s official channels continue promoting new features and contests.
Traders are now organizing collective complaints. Some indicate they’re pursuing legal action. The situation continues developing across crypto social media platforms.
Source: https://www.livebitcoinnews.com/whistleblowers-say-mexc-manipulated-charts-and-froze-accounts-leadership-silent/
