Multiple users on Telegram and X reported that MEXC blocks funds and delays withdrawals.

For example, a user under the nickname Vida reported that he was blocked from withdrawing $92K that he earned from futures. He also said that he contacted support and provided his documents, but after that his money disappeared and his order history disappeared. The exchange responded that its actions were motivated by “abnormal trading activity” of the account.

Many other users faced the same problem.

The company called all accusations slander.

In parallel, the CEO’s X account “MEXC_CEO” was deleted. The community assumes that the account belonged to John Chen Ju.

However, MEXC claims that the account was once used to promote the exchange. However, the CEO left the company in July 2022 and the account has not been associated with the company since then.