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MEXC Exchange Quells Concerns: Clarifies Deleted ‘CEO’ Account Amid Withdrawal Rumors
Last updated: December 28, 2023 05:31 EST . 2 min read
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
Source: iStock/PonyWangMEXC has clarified the deletion of a Twitter account named “MEXC_CEO,” explaining that the owner of the account no longer had any connection with the exchange
Last week, the MEXC_CEO Twitter account, which some users assumed belonged to the exchange’s CEO, John Chen Ju, suddenly disappeared, adding to existing fears that the platform might be experiencing difficulties
Some speculated that the removal of the account could indicate trouble within the firm.
In response, MEXC released a statement on December 24, seeking to alleviate any confusion.
The exchange explained that although the account had once been used officially to promote the exchange, the CEO associated with it had left the company in July 2022
Consequently, the individual behind the account no longer had any actual connection with MEXC
The exchange acknowledged that it had failed to make a specific announcement regarding this change, leading to widespread misunderstanding and confusion when the account was abruptly deleted without notice.
“We sincerely apologize for any confusion caused by this incident,” expressed the exchange
MEXC pledged to make public announcements of significant personnel changes involving official media accounts in the future
Users Report Withdrawal Issues on MEXC
The deletion of the Twitter account led to increased concerns as some traders had reported frozen accounts as early as December 16, while others encountered challenges withdrawing their cryptocurrencies from the exchange.
Several users on the exchange reported issues and delays with withdrawals in recent days, particularly involving Kaspa (KAS) tokens
One trader claimed to have made a profit through new trades on the futures market in 15 days but saw his account frozen the next day.
“I contacted the support and submitted documents. And then on the second day, funds in the accounts were completely wiped out Along with the order history,” they wrote.
However, MEXC reassured its user base that the exchange was operating smoothly, with all s functioning normally
“In response to such unfounded accusations, we reserve the right to take legal action,” stated MEXC in a post on X (formerly Twitter) on December 24.
“Please do not be misled by rumors or by individuals with ulterior motives. We vehemently oppose any form of defamation and/or the dissemination of false information.”
Founded in 2018, the exchange also offers quantitative trading, leveraged ETFs and index ETFs
Over the past 24 hours, MEXC has a spot trading volume of over $2.1 billion, with more than $1.5 billion in assets, according to data from CoinMarketCap