MEXC Faces Criticism Over Account Freezes and Withdrawal Delays

According to DeFi researcher known as “Master” on X (Twitter), MEXC has recently been flooded with complaints about account restrictions without clear explanations. Even high-net-worth users with millions in their accounts have allegedly been affected, with little to no meaningful customer support.

“Everything looked smooth—until I tried to withdraw. Then it just froze. ‘Pending.’ Hours turned into days. Support? Just automated messages. No real help,” one user shared, adding that they found hundreds of similar cases online.

Other users said they were flagged for “abnormal activity” without any specific reason, while some even claimed MEXC confiscated their funds after they made profits on trades.

So far, MEXC has not issued any formal response to these allegations. Earlier in March, the exchange claimed to have frozen over 1,500 accounts involved in market manipulation activities such as spoofing, wash trading, and algorithmic trading schemes.

Still, many industry observers argue that the vague excuse of “abnormal activity” is being overused as a blanket justification to delay or deny legitimate withdrawals, further eroding user trust.

Meanwhile, Coinbase—another major exchange—faced similar criticism in the past but responded by overhauling its system and successfully reducing account freeze incidents by 82%. CEO Brian Armstrong acknowledged the problem had gone on “longer than acceptable” and made user protection a priority.

In contrast, MEXC’s handling of the issue has raised deeper concerns, with some speculating that the problems go beyond poor customer service and could indicate liquidity risks or shady operational practices.

The crypto community is now closely watching for a clear and official statement from MEXC, as doubts over the exchange’s solvency and reliability continue to grow.