MEXC, a well-known cryptocurrency exchange based in Singapore, is facing allegations of freezing users’ assets, leading to panic and fear in the crypto community. Users have been unable to withdraw their tokens, with complaints specifically focused on the inability to move out Kaspa (KAS) tokens from MEXC.
The situation escalated when speculations arose that MEXC CEO John Chen had deactivated his X account, further fueling concerns about the exchange’s credibility and solvency. Screenshots of the deactivated account “@MEXC_CEO” were widely shared, suggesting that the exchange leadership was trying to distance itself from the community.
However, MEXC’s official account on X strongly denied any connection between the deactivated account and its CEO, labeling it as a fake account that had been disabled by X. Nevertheless, some members of the crypto community pointed out that MEXC had previously identified “@MEXC_CEO” as its CEO’s account in a 2021 announcement, leaving room for further clarification.
Amidst these controversies, MEXC reassured users that the exchange was operating smoothly and all systems were functioning normally, dismissing concerns about withdrawal issues. Additionally, MEXC threatened legal action against those spreading defamatory statements about its business.
It is important to note that the information provided in this article is for informational and educational purposes only and should not be considered financial advice. Readers are advised to exercise caution and conduct their own research before making any investment decisions.