Cryptocurrency exchange MEXC has found itself at the center of speculation and concern after the MEXC_CEO Twitter account was unexpectedly deleted. Investors raised the alarm after encountering frozen accounts and withdrawal difficulties, raising fears about the platform’s stability. In a recent announcement, MEXC attempted to address the situation by clarifying the status of the Twitter account and reassuring users about the operational integrity of the exchange.
Statement from cryptocurrency exchange MEXC
MEXC responded to the growing concerns by issuing a statement on December 24, acknowledging the confusion surrounding the removal of the MEXC_CEO Twitter account. Speculation that the account belonged to MEXC CEO John Chen Ju was rife, raising concerns about potential problems within the exchange. MEXC clarified that, contrary to assumptions, the MEXC_CEO account was previously used officially to promote the exchange, but has disassociated itself from the company since the departure of the original CEO in July 2022. The lack of a specific announcement during this transition period contributed to the misunderstanding and increased concerns about the sudden deletion of the account.
The deletion of the CEO’s Twitter account coincided with reports from traders of frozen accounts dating back to December 16 and difficulties withdrawing crypto from the exchange. MEXC acknowledged a lack of communication regarding significant personnel changes. MEXC expressed regret for the confusion caused and reassured users that steps were being taken to prevent a recurrence. The exchange has emphasized its commitment to transparency and proactive communication and recognizes the importance of keeping users informed about important developments.
MEXC grapples with allegations
As a result, MEXC, a leading crypto exchange based in Singapore, has become the latest target of panicked FUD messages in the crypto community. Crypto market participants have urged each other to remove their funds from the exchange amid allegations that the trading platform is freezing users’ assets. However, while MEXC has been plagued by misinformation and false claims aimed at tarnishing its reputation, the exchange maintains that it is operating smoothly with all systems functioning normally.
In response to the false accusations, MEXC urged users not to fall prey to rumors or misleading information, asserting its right to take legal action. The crypto community will be watching closely to see how MEXC overcomes these challenges and whether the exchange can restore trust among its user base. MEXC, on the other hand, dismissed concerns about withdrawal issues. “MEXC is working smoothly and all systems are normal,” the exchange declared on X. He also threatened legal action against organizations that spread defamatory statements about his business.
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