cryptofraud

Executive Summary:
1000% Withdrawal Surge: MEXC is experiencing a staggering 10-fold increase in Bitcoin withdrawal rates, indicating a massive and ongoing loss of user trust.Anonymous Entity = Zero Protection: The platform hides its owners, physical address, and the exact legal entity in its User Agreement, leaving users with absolutely no legal protection or avenue for compensation.Documented Price Manipulation on MEXC with Deliberate Disregard despite Repeated Reports: Documented evidence shows MEXC ignoring its own ±3% index deviation rule to artificially spike prices (13%) and freeze funding rates, systematically liquidating traders.Predatory B-Book Model: Trading experts highlight that MEXC acts as an undisclosed broker trading against its users, frequently confiscating legitimate earnings under the guise of "abnormal profits."Likely Data Manipulation: Independent research by K33 revealed an absurd 457% Open Interest to Proof of Reserves ratio, likely pointing towards fabricated trading volume and data manipulation.Unlicensed & Globally Warned Against: Unlike major centralized exchanges, MEXC operates without a Crypto Operation License. 18 regulatory bodies worldwide have issued official warnings against them.Red-Flagged for Potential Fraud: Highlighted by ScamAdviser stating "mexc.com may be a scam", red flagged as "actively predatory" by FinTelegram (independent financial intelligence platform investigating financial crimes), and proven incident of a forged license in its favor.Abysmal Reputation (1.6/5): 81% of Trustpilot reviewers rate it 1/5, reporting frozen funds, massive losses, and an endless loop of copy-paste support responses meant to evade accountability.
After long time of using the MEXC platform and diving deep into researching it, I am sharing my experience and findings with you here:
1. Surging Withdrawal Rates MEXC has been facing a staggering 10-fold (1000%) increase in Bitcoin withdrawal rates since last July, and this trend continues today. You can verify this via the following link: https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-withdrawing-transactions?exchange=mexc&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line

2. MEXC is Completely Unlicensed and Officially Warned Against
Unlike MEXC, most major centralized crypto exchanges hold at least one Crypto Operation License to provide virtual asset services. (Do not confuse this with merely registering as a Money Services Business [MSB], which is strictly for anti-money laundering (AML) and counter-terrorism purposes and has nothing to do with user protection or trading oversight). Without the aforementioned Crypto Operation License, user compensation, protection, and platform oversight are nonexistent, leaving you highly vulnerable to exploitation, fraud, and manipulation. This includes manipulating the Index Price and funding rates on MEXC, as will be explained below.18 regulatory bodies worldwide have issued warnings against MEXC: FCA (UK), BaFin (Germany), FMA (Austria), NCA and FSA (Japan), ASIC (Australia), AMF(France), SFC (Hong Kong), CNMV (Spain), SC (Malaysia), OSC, AMF, BCSC (Canada), HCMC (Greece), FSMA (Belgium), FSA (Seychelles), VARA (Dubai), and CySEC (Cyprus). You can visit the official websites of these regulators and type "MEXC" in the search bar to verify. Having a financial entity on official warning lists is materially different from simply being unlicensed. A bank might process transactions for an unlicensed entity subject to enhanced due diligence, additional documentation, and keeping it under surveillance. However, being on official warning lists means no reputable bank can deal with them – particularly regarding international transactions. If things escalate, an international order could be issued to shut down the platform, resulting in the freezing of your MEXC account! Despite the numerous regulatory warnings, MEXC continues to evade regulatory oversight, likely in order to persist in manipulating and unjustly enriching itself by seizing traders' funds, as detailed below.
3. Who owns it? Nobody knows The website hides the details of its owners, team structure, physical address, and compliance contact persons. Even the domain registry is masked—these are all classic red flags for any financial platform.
4. ScamAdviser States "mexc.com may be a scam" ScamAdviser, a site dedicated to detecting fraudulent websites, lists MEXC as a suspected scam. It has also been red-flagged by FinTelegram (an independent financial intelligence platform investigating financial crimes). FinTelegram also states: “ …MEXC’s scam-level ratings and its reliance on Finetix Ltd Limited, Paytend and HEURO to bypass AML filters. This case proves that MEXC is no longer just “unregulated”—it is actively predatory”. Links: https://www.scamadviser.com/check-website/www.mexc.com https://fintelegram.com/mexc-compliance-update-red-flag-warning/ https://fintelegram.com/tag/mexc/ 
5. Documented Index Price Manipulation on MEXC Platform (Violating their own stated rules) with Deliberate Disregard despite Repeated Reports MEXC’s policy literally states the following:
"The Index Price is the volume-weighted average price of the underlying asset across major spot exchanges.""MEXC will periodically update the index components and weights.""If the spot price of a particular exchange deviates from the median of all exchanges by ±3% [currently updated to ±1%], it will be excluded." 
Here is the link documenting the above quotes on their official website: https://www.mexc.com/learn/article/3-key-prices-in-futures-trading-what-are-index-price-fair-price-and-last-price-/1  
👉 For TRADOORUSDT (and other perp pairs), the index was 100 % MEXC’s own spot price for two weeks. All 11 other spot exchanges—including major exchange: Bitget—are ignored. Result: At 09:53 UTC on 09-09-2025, MEXC’s price (spot: 2.8921 ≡ index: 2.8921 ≈ fair price: 2.8812) artificially spiked 13 % above the real market median (2.5404) and liquidated my account. (Values used for the median: Bitget 2.5531, KCEX 2.5411, Biconomy 2.6150, Hotcoin 2.5211, Ourbit 2.5599, XT 2.5188, BitMart 2.6952, HIBT 2.5165, Poloniex 2.5398, BingX 2.4496).
This is not an isolated case. There are over 100 reports of the same issue on Trustpilot alone, not to mention hundreds of reports of other breaches!
6. Funding-Rate Fee Frozen at -0.50% (In certain perpetual contracts) For TRADOORUSDT, the funding rate is supposed to be adjusted every 4 or 8 hours. Instead, it remained frozen for two weeks, heavily draining short positions even when there was no gap between the perpetual futures price and the spot price (in other words: even when the price premium had completely vanished).
7. Abysmal User Rating: 1.6/5 (81% of reviewers rate it 1/5) On review platforms with strict anti-fake review policies (like Trustpilot), MEXC scored an abysmal 1.6 out of 5. (Update: The overall rating has been replaced with a warning from Trustpilot for MEXC violating the platform’s terms of service by encouraging reviewers to post fake positive reviews! However, the page still shows that 81% of reviewers gave a rating of 1 out of 5.).
Withdrawal issues, uncredited deposits, and account freezes: 50-60% of reviews.Liquidations due to index price manipulation and/or frozen funding rates: 10%.Useless customer support evading investigations into irregularities: 15-20%.Accusations of fraud, theft, or transferring stolen funds to the platform (along with non-cooperation with law enforcement): 15%.Positive reviews: Less than 5%.
Trustpilot review page link: https://www.trustpilot.com/review/www.mexc.com

8. Useless, Copy-Paste Support Loop Every support ticket in my case received a generic response. There is zero explanation as to why the ±3% rule was ignored or where the "periodic updates" went. There are no internal compliance case numbers, no timelines provided, and absolutely no refunds.

9. MEXC.com User Agreement Hides the Legal Entity = Users are Unprotected The platform's Terms and Conditions fail to identify the legal entity with which users are entering into the agreement. (A legal entity is different from a platform's famous brand name; it should be formulated with the business name followed by an abbreviation indicating the company type and liability limits, such as "Binance Bahrain B.S.C.", along with its governing jurisdiction). Instead, MEXC’s User Agreement vaguely states that the agreement is "entered into by and between you... and MEXC Trading Platform" without naming a registered corporate entity or jurisdiction. This means there is no legal avenue for protection, accountability, or compensation if any violation occurs. Check the User Agreement for yourself here: https://www.mexc.com/terms 

10. Independent Research Firm Concludes MEXC Manipulated Trading Data A research report published by K33 Research in February 2023 highlighted a shocking statistic: the ratio of Open Interest to Proof of Reserves on MEXC stands at an absurd 457%, a highly anomalous figure compared to competitors whose ratios rarely exceed 100%. Simply put, this means the volume of open positions on the platform is 4.5 times larger than the assets they have actually proven to hold. The report concludes this can only happen under two scenarios: "(A) Traders on MEXC use significantly higher leverage than on any other platform, or (B) The figures are completely manipulated." The report leans toward option (B) (manipulation), noting a distinct lack of excessive liquidations on MEXC during highly volatile market conditions, which would inevitably occur if extreme leverage were genuinely being used. The research reached the same conclusion when analyzing MEXC’s reported trading volume against its reserves. This data-backed analysis adds a layer of severe doubt regarding the integrity of the numbers the platform reports.
11. Forged License In May 2024, the Financial Services Authority in Seychelles (FSA Seychelles) issued a warning regarding a website that fraudulently cloned the authority’s site to display a forged license for a company named "MEXC Global trading Limited." Official warning link: https://fsaseychelles.sc/media-corner/regulatory-updates/alert-cloning-of-the-fsa-website-and-forgery-of-securities-dealer-licence

12. Trading Expert (15 years): MEXC confiscates trader profits under the guise of "Abnormal Profits", and that the pure crimes going on at MEXC  are worse than those at FTX (which collapsed). In a tweets by trading expert MDX (a professional with 15 years of experience), he stated that MEXC does not function as a true crypto exchange, but rather as an undisclosed broker (B-book model). Because they list a massive amount of unknown, highly illiquid altcoins, they provide 99% of the liquidity themselves through their own affiliated liquidity providers. Therefore, when a trader wins, they win at MEXC's expense (as MEXC takes the opposite side of the trade). Once a trader makes a profit, the platform simply confiscates those earnings, labeling them "abnormal profits"! Expert's tweet links: https://x.com/MDXcrypto/status/1738527879003058235
https://x.com/MDXreal/status/1743984437098959280 
#MEXC #Cryptoscam #ScamAlert #CryptoFraud #CryptoSafety

Federalne Biuro Więziennictwa USA (BOP) zaktualizowało przewidywaną datę zwolnienia Sema Bankmana-Frieda, założyciela giełdy kryptowalut FTX, który odbywa 25-letni wyrok za oszustwo na 11 miliardów dolarów. Zgodnie z danymi BOP z 26 maja 2025 roku, Bankman-Fried może wyjść na wolność 14 grudnia 2044 roku — cztery lata wcześniej, niż przewidywano. To stało się możliwe dzięki systemowi skrócenia wyroku za dobre zachowanie: federalni więźniowie mogą otrzymać do 54 dni skrócenia rocznie. Czas ten skraca się również za udział w programach edukacyjnych i rehabilitacyjnych.

Policja w Szanghaju rozbiła gang oszustów kryptowalutowych
Policja w Szanghaju skutecznie rozbiła zorganizowaną grupę oszustów, którzy oszukiwali ofiary za pośrednictwem fałszywych platform inwestycyjnych, których celem byli traderzy kryptowalut. Śledczy w dzielnicy Yangpu aresztowali 16 osób zamieszanych w oszustwo po przeprowadzeniu obszernego śledztwa.
Oszuści używali fałszywych tożsamości i manipulacji
Śledztwo wykazało, że gang, dowodzony przez osoby zidentyfikowane jako Yang i Yu, infiltrował grupy czatów poświęcone inwestycjom w kryptowaluty, podszywając się pod „mistrzów inwestycji”. Stosując tę ​​taktykę, zyskali zaufanie ofiar i skierowali je na fałszywą platformę do handlu kontraktami kryptowalutowymi, którą sami stworzyli.

Myślał, że nikt nie zauważy — ale zauważyli. Waylon Wilcox (45) z Pensylwanii zarobił miliony sprzedając CryptoPunks NFT podczas boomu na cyfrowe kolekcjonerskie przedmioty, jednak w swoich zeznaniach podatkowych twierdził, że nigdy nie sprzedał żadnych aktywów cyfrowych. Teraz grozi mu do sześciu lat w więzieniu.

💸 Ponad 13 milionów dolarów ukryte — 3 miliony dolarów uniknięte w podatkach
Według Biura Prokuratora USA, Wilcox przyznał się do niewłaściwego zgłaszania ponad 13 milionów dolarów dochodu związanego z NFT z 97 transakcji w 2021 i 2022 roku.

Szokujący przypadek nadużycia władzy w Krajowej Agencji Kryminalnej (NCA) w Wielkiej Brytanii doprowadził do kary pozbawienia wolności: były śledczy Paul Chowles został skazany na 5,5 roku za kradzież 50 bitcoinów, wartym około 59 000 funtów w tamtym czasie, a teraz wycenianym na ponad 4,4 miliona funtów.

Kradzione Bezpośrednio z Dowodów
Chowles, obecnie 42-letni, był częścią elitarnego zespołu NCA badającego Silk Road 2.0 w 2014 roku - rynku darknetowego, który powstał po tym, jak FBI zamknęło oryginalny Silk Road. Jego zadaniem była analiza danych cyfrowych przejętych od administratora rynku, Thomasa White'a. W trakcie tego procesu Chowles uzyskał dostęp do kluczy prywatnych portfela zawierającego 97 BTC. W maju 2017 roku cicho przelał 50 z nich na swój osobisty „portfel emerytalny”.

W Nowej Zelandii rozwija się przerażająca sprawa, w której kryptowaluty odgrywają centralną rolę. Julia DeLuney, była nauczycielka i inwestorka w kryptowaluty, jest oskarżona o zamordowanie swojej 79-letniej matki, Helen Gregory. Prokuratorzy twierdzą, że motywem zbrodni nie była tylko osobista burza, ale mroczny spiralny dług i oszustwa kryptowalutowe.

Upadek z poddasza – czy zimnokrwiste morderstwo?
Incydent miał miejsce 24 stycznia 2024 roku w cichym przedmieściu Khandallah. DeLuney twierdziła, że jej matka spadła ze schodów na poddasze. Jednak eksperci sądowi stwierdzili, że obrażenia głowy nie pasują do prostego upadku – były zgodne z wieloma urazami od uderzenia. Prokuratorzy argumentują, że to było starannie zaplanowane morderstwo mające na celu przykrycie trwających oszustw finansowych.

1️⃣ Token, który nigdy nie miał trwać

W październiku 2021 roku uruchomiono nową kryptowalutę o nazwie Squid Game Token (SQUID), inspirowaną popularnym serialem Netflixa. Inwestorzy rzucili się, mając nadzieję na wykorzystanie hype'u.

✔️ Cena SQUID wzrosła, osiągając 2,861 dolarów za token w zaledwie kilka dni.

✔️ Tysiące inwestorów zainwestowało w to pieniądze, wierząc, że to legitny projekt.

✔️ Następnie, w mgnieniu oka, token spadł niemal do zera—niszcząc miliony inwestycji.

2️⃣ Znaki Ostrzegawcze, Które Nikt Nie Zauważył