Base

Million

<ul>
 <li>A number of traders have released reports along these lines in the last couple days.</li>
 <li>The exchange asserts that abnormal trading activities were the driving force.</li>
</ul>
According to many claims on Twitter, crypto exchange <a href="https://thenewscrypto.com/mexc-vs-grimace-the-exchanges-expensive-lesson/" target="_blank" rel="noopener noreferrer nofollow">MEXC</a> has purportedly restricted the accounts of numerous traders and seized their funds. The exchange asserts that “abnormal trading activities” were the driving force behind the measures.
Ever since Dec. 16, users of MEXC have been griping about account limitations. Following gains from various transactions conducted over the last fifteen days in the futures market of MEXC, the anonymous trader known only as “Vida” disclosed on twitter a $92,000 loss in <a href="https://thenewscrypto.com/el-salvador-offers-citizenship-on-1m-investment-in-bitcoin-or-usdt/" target="_blank" rel="noopener noreferrer nofollow">USDT</a> tokens.
<h3 class="wp-block-heading" id="h-risk-management-system">Risk Management System</h3>
Vida’s images reveal that the exchange’s employees looked into the matter after the MEXC support team admitted that their risk management system had detected an issue with the transactions.
According to the statement made by <a href="https://www.mexc.com/" target="_blank" rel="noopener noreferrer nofollow">MEXC</a>:
<blockquote class="wp-block-quote">
 “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.”
</blockquote>
A number of traders have released reports along these lines in the last couple days. An individual whose account has been inaccessible since September claims that a $8,000 trade caused the exchange to freeze their account. The user claims that other MEXC traders they know have run with the similar problem in recent weeks.
The MEXC terms of service states that the exchange may, without permission or prior notice, examine any alleged breach of this Agreement, decide unilaterally whether a breach has occurred, and take appropriate action in accordance with applicable rules.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/coinbases-base-network-thrives-with-734-million-tvl/" target="_blank" rel="noopener noreferrer nofollow">Coinbase’s Base Network Thrives with $734 Million TVL</a>

MEXC Crypto Exchange Faces Backlash Over Freezing Accounts

Table of Contents

TheNewsCrypto

Other articles published on Dec 24, 2023

As Bitcoin surges, miners reap these benefits

Why Is Moonriver’s MOVR Pumping? Price Close to Major Resistance at This Level

Bitcoin proponents kick against proposed US crypto ban

Centralization will kill web3 before it reaches its full potential | Opinion

Solana Surges Above $117 As Meme Coin Craze Extends Market Momentum

Move over, Waymo: web3 levels the playing field for self-driving cars | Opinion

Join our free newsletter for daily crypto updates!