United

<a href="https://bitcoinworld.co.in/crypto-exchange-mexc-froze-traders-funds-and-blocked-accounts/" title="Crypto Exchange MEXC Froze Traders’ Funds And Blocked Accounts" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Traders report that crypto exchange MEXC froze their assets and blocked their accounts.</li>
 <li style="font-weight: 400">MEXC claimed that it was “abnormal trading activities.”</li>
</ul>
Crypto exchange MEXC has allegedly frozen several traders’ accounts and seized their funds, according to multiple reports on X (formerly Twitter).&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Mexc is going shameless mode these days, many users have complained on X that their funds are frozen &amp; taken. I got wiped out for 92k USDT too.
 I made my profit through several news trades, 5x'ed my bag on mexc futures in 15 days, and then my account was frozen.
 I contacted… <a href="https://t.co/urlpQ1e664" rel="noopener noreferrer nofollow">pic.twitter.com/urlpQ1e664</a>
 — Vida (@Vida_BWE) <a href="https://twitter.com/Vida_BWE/status/1738243103138721844?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 22, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The exchange claims the actions were motivated by “abnormal trading activities.”&nbsp;
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 tokens, following profits from multiple recent trades over 15 days in MEXC’s futures market.&nbsp;
“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.
Vida’s shared screenshots show that MEXC’s support team acknowledged that their risk control system flagged a problem with the trades, which was subsequently investigated by the exchange’s staff. As per MEXC’s reported statement:
“Regarding the account restrictions and issues related to futures trading/assets that you have raised, our risk control system and relevant personnel have conducted a thorough examination. It has been identified that there have been abnormal trading activities in your account and associated accounts. In accordance with the terms of use, we have taken measures to recover the losses incurred.”
Over the past few days, several traders have published similar reports. According to a user experiencing problems since September, their account on the exchange was frozen following an $8,000 trade.&nbsp;
According to this user, other friends who trade on MEXC have also experienced the same issue over the past weeks.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/jpmorgan-chase-froze-terminated-customers-account-after-5298-deposit/" aria-label="“JPMorgan Chase Froze, Terminated Customer’s Account After $5,298 Deposit” (Edit)" rel="noopener noreferrer nofollow">JPMorgan Chase Froze, Terminated Customer’s Account After $5,298 Deposit</a>
“Judging from the proportion of blocked friends in the group around me, it is close to 10%,” they wrote.
<a href="https://www.mexc.com/terms" rel="noopener noreferrer nofollow">MEXC</a>’s terms of services say the exchange “has the right to investigate any violation of this Agreement, unilaterally determine whether you have violated this Agreement, and take actions under relevant regulations without your consent or prior notice.”
As per the terms, examples of such actions include blocking and closing order requests, freezing accounts, reporting incidents to authorities, publishing alleged violations and actions taken, as well as deleting any infringing information.
MEXC is a centralized cryptocurrency exchange established in 2018 and headquartered in Seychelles.&nbsp;
According to its website, trading services are not available in the United States, Canada, and China. The exchange offers trading for over 2,000 pairs.
The post <a href="https://bitcoinworld.co.in/crypto-exchange-mexc-froze-traders-funds-and-blocked-accounts/" rel="noopener noreferrer nofollow">Crypto Exchange MEXC Froze Traders’ Funds And Blocked Accounts</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Crypto Exchange MEXC Froze Traders’ Funds And Blocked Accounts

ItsBitcoinWorld

Other articles published on Dec 23, 2023

How Can Businesses Utilize Metaverse to Improve Productivity?

AI Image Dataset Controversy: Child Sexual Abuse Material Raises Alarms

Ripple Chief Lawyer Talks About SEC Offering Deal to Ripple Before Filing Lawsuit

Quidax Offers Free Bank Transfers for Crypto Transactions in Nigeria

3 Most Promising Altcoins To Buy In 2024 For 300% Gains

Insomniac Games’ Resilience Shines Amid Bitcoin Ransom Attack Fallout

Join our free newsletter for daily crypto updates!