Many crypto users and industry observers have raised concerns about global exchange MEXC over account freezes and withdrawal restrictions.
Previously, other major exchanges like Coinbase and OKX faced similar allegations and community backlash. While Coinbase CEO recently committed to significantly reducing account freezes, user feedback continues to surface across social media. Now, MEXC is also facing a similar backlash.
Some MEXC Users Report Accessibility Issues
MEXC exchange faces accusations, ranging from arbitrary account freezes to possible insolvency. User concerns suggest that a widening trust crisis may be forming around the platform.
“In recent months, the cryptocurrency exchange MEXC has come under increasing scrutiny for a surge in account freezes and withdrawal restrictions, often without clear or valid justification,” wrote DeFi researcher Master on X (Twitter).
He cited multiple high-net-worth users with balances in the seven- to eight-figure range being targeted. Allegedly, MEXC largely automates support responses, while upper management remains “unresponsive” and “unwilling to correct these abuses.”
The post adds to a list of confirmations from other users claiming similar experiences—some allege that they have supported out of their funds after profiting on trades.
Meanwhile, others claim to have received vague flags for “abnormal activity” before their accounts were frozen.
More closely, one user described a personal experience in which his account was flagged and locked after an attempted withdrawal.
“Everything seemed fine… then I tried to withdraw. Nothing. ‘Pending.’ Hours turned into days. Support? Radio silence. Auto-replies, no resolution,” the user wrote.
After investigating, this particular user reportedly uncovered hundreds of similar stories.
Meanwhile, MEXC provided a justification for why these events might take place in their latest ‘Risk Control’ knowledge blog.
According to the statement, the exchange may freeze user accounts, delay withdrawals, or roll back trades as part of its risk control measures. These actions are not arbitrary but aim to protect platform stability, ensure market fairness, and comply with global financial regulations.
More specifically, MEXC noted reasons such as suspicious trading behavior, money laundering concerns, misused identities, and protection against exploits.
The exchange advises users to avoid interacting with suspicious tokens or high-risk communities, refrain from abusive trading, and ensure all funds are sourced transparently and pass KYC checks.
A Recurring Concern For Centralized Exchanges
BeInCrypto recently reported that Coinbase had slashed its account freezing incidents by 82%, following public pressure.
“My account has been frozen for weeks despite submitting all required KYC documentation… This is causing real financial harm for many once loyal users,” wrote Hunter, senior ecosystem development/investment lead at Tron.
Coinbase CEO Brian Armstrong admitted the issue had persisted “longer than acceptable,” but said the exchange made it a priority to fix, with ongoing improvements.
However, several users still claim sudden freezes and delays on Coinbase. In fact, other exchanges like OKX have also faced similar criticism in recent months.
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