Account X 'Mystral' exposes a series of violations by the MEXC exchange.
An anonymous account on X named @Mystral_777 has caused a stir by posting a series of allegations against the MEXC exchange regarding numerous violations, including freezing over 10 million USD in withdrawals, extorting listing fees, and misconduct by the leaders. The post included photos, messages, and leaked videos, although they have not yet been verified.
According to Mystral, many projects like CateCoin were charged over 60,000 USD in listing fees but were not listed unless they paid more. Many users reported losing money, being blocked from withdrawals, and having their support requests closed. Additionally, MEXC is accused of market manipulation and using bots to increase interaction.
The strategy director Cecilia Hsueh later admitted to the mistakes in the process, apologized, and confirmed a refund for one user, but did not respond to other serious allegations, resulting in ongoing waves of criticism.
