Skip to main content

Seychelles-Based Crypto Exchange MEXC Rejects ‘Baseless’ User Asset Freeze Claims

Seychelles-Based Crypto Exchange MEXC Rejects 'Baseless' User Asset Freeze Claims

The Seychelles crypto exchange MEXC has rejected claims it is unilaterally freezing users’ accounts or “wiping” out their profits. The MEXC team said it opposes ongoing attempts to defame its name and may resort to taking legal action.

Baseless Claims

The Seychelles-based cryptocurrency exchange, MEXC, has described allegations that it is unilaterally freezing users’ accounts as “baseless claims” being propagated by “individuals with ulterior motives.” In a statement, the MEXC team said it vehemently opposes attempts to defame it or disseminate false narratives and may institute legal proceedings against those behind the rumors.

The crypto exchange’s strong rebuttal of claims followed several media reports of disgruntled users, some of whom have accused MEXC of “wiping” out profits as well as the relevant trade history. One of the affected users claimed to have lost access to 92,000 in USDT stablecoins when the crypto exchange allegedly froze his account.

Sharing his ordeal on X (formerly Twitter), the user, who uses the name Vida, said subsequent attempts to recover the funds were frustrated by MEXC’s support team, which cited “abnormal trading activities” in the user’s account or associated accounts.

Users Urged to Refrain From Spreading False Information

However, in the crypto exchange’s Dec. 24th rebuttal of the claims, the MEXC team said it is still committed to users’ welfare. It also warned users to avoid spreading fake news about the crypto exchange.

“Since its establishment, MEXC has consistently upheld ‘Customer First,’ as its guiding principle. We are committed to safeguarding the interests of users and cultivating project partners. We sincerely appreciate the trust and support that our users have consistently placed in us. We encourage everyone not to blindly believe rumors and refrain from spreading false information,” the crypto exchange said.

In another post on X, the MEXC team disavowed an account purporting to be that of its CEO and told users to verify news about it through official social media channels. Despite the crypto exchange’s assurances, some users continued to report unsuccessful withdrawal requests

What are your thoughts on this story? Let us know what you think in the comments section below.



from Bitcoin News https://ift.tt/5XtOyP8
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more