MEXC Freezes Over 1,500 Market Manipulation Accounts

MEXC has identified and suspended more than 1,500 accounts involved in a large-scale market manipulation scheme spanning Vietnam and CIS countries.

Azcnews Breaking Mexc Freezes Over 1,500 Market Manipulation Accounts

Cryptocurrency exchange MEXC has frozen over 1,500 accounts tied to what it describes as a “large-scale coordinated group of market manipulators,” after its internal investigation uncovered two coordinated groups operating in Vietnam and CIS countries. Some of these accounts showed daily trading volumes exceeding $20 million.

In a blog post, MEXC stated that the groups engaged in practices such as “self-trading, spoofing, layering, front-running, quote stuffing,” and other market manipulative behaviors. According to the exchange’s calculations, coordinated malicious trading activities “have increased by 60% from January to February 2025 compared to the end of 2024.” The exchange added that these schemes are increasingly utilizing “institutional-level access to liquidity, infrastructure, and algorithmic strategies.”

“We are recording the transformation of manipulations from the retail to the group and even quasi-institutional level, which carries systemic risks for both individual exchanges and the market infrastructure as a whole.”

Announcement Of Mexc
Announcement Of Mexc

The exchange stated that it has taken steps to mitigate the impact, including reversing suspicious transactions and suspending all identified accounts. It has also implemented a monitoring system for suspicious accounts, placing flagged participants under “enhanced surveillance for at least 30 days.”

Earlier in March, blockchain investigator ZachXBT called the nearly $1.5 billion Bybit hack “eye-opening,” warning that the industry’s security issues might not improve without government regulations that could “hurt our entire industry.” According to ZachXBT, several “decentralized” protocols — such as eXch and THORChain, among others — have generated nearly all of their monthly volume and fees from transactions linked to North Korea. Despite this, the investigator notes, they “refuse to take any accountability.”

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