MEXC acquired one other wave of person reviews, claiming accounts have been locked with out recourse. The change renewed its investigation to offer a purpose for the locked accounts.
MEXC, some of the extensively used world exchanges, is as soon as once more receiving social media reviews of locked person accounts. Merchants have complained that when they achieved a extra vital sum of their account, their funds have been held, and withdrawals have been banned.
One person claimed MEXC held $300,000 in a locked account, requiring a 40% haircut to launch the funds.
“MEXC locked my account holding approx. $300,000. I absolutely complied with their verification course of and submitted each doc they requested.”
“Days later, their help lead contacted me immediately on my registered cellphone quantity and demanded 40% of my funds in change for unfreezing my account,” confirmed a current submit on X. Nonetheless, MEXC denied the occasion occurred, calling the information a tactic for farming site visitors.
The unique person additionally shared their expertise, claiming MEXC was intentionally rug-pulling profitable merchants by refusing withdrawals.
I obtained rugged by @MEXC_Official pic.twitter.com/KTZAKEGrLi
— 🏴☠️Cepi (@CepeGRS) February 21, 2026
The change has responded to Cryptopolitan, claiming that they may not determine the person ID based mostly on the social media posts. Crypto investigator ZachXBT additionally warned that the person reviews could also be a device to drive engagement and probably inject crypto scams. Alongside the reviews of frozen funds, scammers posted faux hyperlinks on behalf of MEXC.
The change is presently investigating the claims and looking for to find out in the event that they correspond to an actual person.
“We’re actively trying to contact the person talked about in these reviews to analyze the claims. Nonetheless, thus far, no verifiable UID or concrete proof has been offered by the person to help these allegations,” responded MEXC in a press release.
MEXC additionally held funds for alleged theft
One other person who complained about locked funds reported $20,999 in USDT. The person ID was found by investigators.
On this case, the person ID was solely used as a screenshot by the investigator. An additional test by MEXC confirmed the ID was associated to funds with a suspicious origin.
“Our workforce has verified that this account is concerned within the theft of funds. This matter has been escalated to, and is being managed by, the related compliance and threat management departments,” acknowledged MEXC.
MEXC has acquired a number of social media reviews of withholding person funds. The issues are generally brought on by customers from blocked jurisdictions or by the interior means of MEXC.
As Cryptopolitan reported, one of many high-profile circumstances got here from the dealer White Whale. He known as out MEXC on a number of events till the funds have been launched. His largest criticism was that the account was absolutely verified, but MEXC required an in-person go to to launch funds.
Different customers have reported making deposits, which have been then not mirrored of their accounts. The White Whale has additionally expressed skepticism in regards to the precise reserves of MEXC.
MEXC presently reviews over 9,087 BTC in its reserves after vital inflows prior to now few weeks.
The change remains to be dealing with skepticism, because it is likely one of the few remaining unregulated markets, working for a global viewers of merchants, and probably posing extra vital dangers. MEXC additionally has till the tip of June to change into MiCAR compliant, or face limits to its EU operations.
