Considered one of the leading Bitcoin exchanges in the industry, MEXC temporarily froze the investments of JrKripto, which has a large following in Turkey. MEXC, ranked among the top 20 by CoinMarketCap, has temporarily frozen JrKripto’s investments in the altcoin named ORT. Here are the details…
Bitcoin exchange freezes investments of crypto phenomenon
MEXC, known as one of the leading players in the cryptocurrency exchange industry, has decided to temporarily stop JrKripto’s investments. Jr Crypto, which has a significant following in Turkey, has temporarily frozen its investments in altcoin ORT by MEXC, which is among the top 20 exchanges according to CoinMarketCap. In the face of this situation, Jr Crypto, who shared on Twitter, used the following statements on his official Twitter account:
So, why was the investment of Jr Crypto, which has an impressive 250 thousand followers on the MEXC platform, frozen? According to MEXC’s response to the phenomenon, ORT investments were frozen due to an alleged dispute between him and the ORT team. The exact details of the dispute have not been made public. However, it is noted that the ORT team has provided MEXC with evidence deemed sufficient to justify the temporary freeze.
They drew attention to the disagreement about ORT
MEXC’s official spokesperson, Zhou, shed some light on the matter by responding to Jr Crypto’s tweet. According to Zhou, there is indeed a trade dispute with ORT and the ORT team informed the exchange of the ongoing issue while presenting the relevant evidence. As a result, MEXC has decided to temporarily freeze Jr Crypto’s assets associated with the altcoin ORT. However, Zhou stressed that this measure is limited only to the ORT assets in Jr Crypto’s account and the rest of his holdings on the exchange remain accessible for withdrawal at any time. Zhou also explained that MEXC is cooperating with the relevant judicial processes regarding the dispute.
Despite these recent developments, ORT’s value in the stock market has soared. It is currently trading at $0.0046. In fact, the cryptocurrency has risen by 10 percent in the last 24 hours. As the situation unfolds, the crypto community is keeping a close eye on further updates and disclosures from both MEXC and Jr Crypto. Such events highlight the importance of transparent communication between cryptocurrency exchanges and their users, as well as complying with legal protocols to resolve disputes. For now, investors and users of the MEXC exchange are advised to follow the developments closely. As with any investment, the cryptocurrency market carries unique risks and knowledge is essential to making sound financial decisions.
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