MEXC addresses whistleblower claims, saying liquidations followed market volatility while some account freezes stemmed from legal orders.
Crypto exchange MEXC has responded to whistleblower allegations circulating across social media platforms.
The response follows trader claims of manipulated charts, forced liquidations, and frozen accounts. Users alleged losses exceeding $8 million, according to multiple posts shared on X. MEXC says the claims misrepresent how its systems and compliance processes operate.
In comments to the LBN team, the exchange addressed and debunked cases highlighted by X user Sofia (@alotaibi6613).
Her posts referenced several traders, including Bogdan (@st88887) and @cryptokijun. MEXC stated these incidents resulted from market volatility, not platform misconduct.
MEXC explained to the LBN team, that the cited liquidation cases stemmed from extreme market volatility.
According to the exchange, its liquidation mechanism applies transparent and uniform rules. The platform said no account manipulation or system malfunction occurred.
MEXC added that its compensation policy applies only to verified platform failures.
Losses caused by market-driven liquidations do not qualify under that framework. The exchange said it communicated this position to the affected users multiple times.
The response also addressed comparisons with other major exchanges. MEXC said claims of universal compensation across...
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