There is currently a lot of excitement in the crypto community: The popular trading platform MEXC is the focus of intense criticism. Several users report about frozen accounts, delayed payments and a noticeably tense atmosphere among traders. While the stock exchange itself denies the allegations, concerns are growing about a potential loss of confidence.
Reports of blocked accounts and frozen funds
In recent days, numerous users on social networks and forums have reported on Suddenly blocked entrances and frozen funds The sums involved are enormous: According to several consistent sources, amounts between 3 and 40 million US dollars to be affected.
The affected traders report... Accounts deactivated without warning and lack of communication from MEXC. In some cases, support requests went unanswered or were only answered with standardized text modules.
On-chain data shows massive capital outflows
A look at the blockchain data confirms the unease: Within just a few days, more than 2 billion US dollars MEXC has withdrawn its funds – a clear sign that many investors are losing confidence in the platform.
Analysts speak of a "classic bank run" effect: As soon as rumors of liquidity problems arise, investors try to withdraw their funds as quickly as possible – which in turn exacerbates the situation.
MEXC rejects allegations
The company itself reacted quickly to the emerging criticism. In an official statement, MEXC declared that all customer funds were backed up to 100% of % and that the rumors were "false and misleading." The platform also emphasized that it guaranteed "stable operations and sufficient liquidity.".
Despite this statement, the community remains suspicious. Many recall similar wording used by other exchanges – such as FTX, Celsius, or BlockFi – before their collapse.
Memories of FTX and Celsius are awakened.
The current situation is reminiscent of some of the biggest crypto scandals of recent years. When the FTX and Celsius exchanges collapsed in 2022, millions of investors lost their deposits – often with no prospect of reimbursement.
Back then, it all started with delayed payments and reassuring statements, which later turned out to be false. The fact that this pattern is now repeating itself is causing nervousness – not only among MEXC users, but throughout the entire crypto community.
Key risk: Trust in CEX continues to decline.
The current incident once again demonstrates the weaknesses of centralized cryptocurrency exchanges (CEX). Even though MEXC insists it keeps client funds safe, recent events underscore the importance of decentralization and Self-custody.
Therefore, more and more traders are relying on decentralized stock exchanges (DEX) and Hardware wallets, in order to retain control over their assets – a trend that gains momentum after every scandal of this kind.
Conclusion: Between rumors, facts, and loss of trust
Whether the allegations against MEXC are justified or merely exaggerated panic remains to be seen. However, one thing is clear: Trust in central cryptocurrency exchanges is once again being put to the test.
Investors should be aware that even large trading platforms are not without risks. The motto is:„Not your keys, not your coins“is more relevant than ever – anyone who wants to secure their cryptocurrencies in the long term should keep them in their own custody.
Until MEXC provides full transparency regarding the current situation, the community remains skeptical – and for good reason.
