MEXC addresses public concerns regarding the deleted X account and reports of frozen accounts
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Crypto exchange MEXC recently addressed several concerns that arose among the public, including the deleted account on X called MEXC_CEO, as well as reports of withdrawal issues and frozen accounts.
The deletion of MEXC_CEO account on X
The deleted account on X (formerly Twitter) called MEXC_CEO was believed to be associated with the platform’s chief executive, John Chen Ju. Its removal from the platform led many of the exchange’s users to fear for its stability.
However, addressing the matter, MEXC admitted that the account in question was used to promote the exchange in the past. But, the exchange stressed that its original CEO, who was associated with the account at the time, had left the company back in July 2022.
Since then, the account’s owner had no connections with MEXC. The exchange also said that failing to address the matter with a formal announcement regarding the changes is what led to the confusion and misunderstandings following its sudden removal. In other words, the platform admitted fault for not addressing the issue, but it also wants to reassure its community of traders and investors that there is nothing to fear.
Clarification on the recent MEXC_CEO Twitter Account Confusion
Recently, there have been rumors on social media about the MEXC_CEO Twitter account. We sorry for any confusion caused by this incident and would like to clarify the following:
Timeline of MEXC CEO's account:
🔹In… pic.twitter.com/xnwxylMEYy— MEXC (@MEXC_Official) December 24, 2023
The exchange also said that it had removed all interactive tweets coming from the former CEO, it intends to make public announcements of all significant personnel changes involving official media accounts, and that all official accounts on the MEXC platform are verified on its official verification platform.
Account freezing and withdrawal issues
While MEXC was able to clear things out regarding the former CEO’s X account, the platform has also been dealing with allegations of freezing the accounts of some traders and preventing them from withdrawing their funds. Reports mentioning the issues emerged last week, as some users found themselves unable to withdraw cryptocurrencies.
Reports stressed that Kaspa (KAS) tokens were commonly mentioned as part of the issue. Some have also reported having their accounts frozen, which further added to the community’s growing concerns.
MEXC addressed this as well in an attempt to reassure its customers. The exchange explained that everything was operating smoothly and that all of its systems were normal. As for the reports of issues, the exchange said that these are rumors and misinformation, warning users not to be swayed by them. The exchange also firmly established its stance against defamation and the spread of false information.
To add to the confusion, there have also been multiple reports from those who claimed that their accounts were frozen and their funds seized. These reports cited “abnormal trading activities” as the reasons behind their difficulties.
One trader reported that $92,000 in USDT was lost after they profited from MEXC’s futures market. The trader, known as Vida, said that MEXC’s team acknowledged that their risk control system flagged a problem with the trades and that the exchange investigated the matter.
Similar problems were reported back in September, which raised concerns among community members even more. One of the users said that nearly 10% of their trading group had their accounts blocked.
