A well-known cryptocurrency exchange is suspected of bankruptcy

In recent days, many traders have complained about the blocking of accounts with the subsequent confiscation of assets on the cryptocurrency exchange MEXC.

MEXC employees are behaving dishonestly, and many users have complained about the freezing and seizure of funds. I lost 92,000 USDT. I made money by making several trades, multiplying my capital fivefold in 15 days on the MEXC futures trading platform, and then my account was blocked.

I contacted technical support and sent the documents, and the next day all the money disappeared from my account along with the order history," wrote a disgruntled MEXC client.

Another trader faced similar problems after earning $ 8,000 on cryptocurrency trading. According to him, the accounts of about 10% of his friends were also blocked, so this is a massive phenomenon.

MEXC customer support representatives said that the freezing of accounts and confiscation of virtual currency could have occurred due to abnormal trading activity of users. According to the terms of service, the exchange has the right to block an account without notice in case of violation of the rules by the client. In this regard, it can be assumed that the traders who were sanctioned were suspected of financial fraud.

Meanwhile, MEXC director John Chen deactivated his Twitter account, which sparked rumors of an exit poll. Members of the crypto community believe that exchange employees may disappear with clients' money. Traders are advised to refrain from using the MEXC service until the situation is resolved.