MEXC Quells Fears Over Possible Issues After CEO Account Deactivation

Last updated: December 25, 2023 05:22 EST . 2 min read

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.PixabayDigital asset exchange, MEXC has addressed user fears over a deleted social media account believed to be its CEO, stating that the firm has no official connection with the account.

In a Dec 24 post on X (formerly Twitter), the exchange watered down community fears addressing all issues including the confusion behind the account ‘MEXC_CEO’ after it was deleted.

Clarification on the recent MEXC_CEO Twitter Account Confusion

Recently, there have been rumors on social media about the MEXC_CEO Twitter account. We sorry for any confusion caused by this incident and would like to clarify the following:

Timeline of MEXC CEO’s account:
🔹In… pic.twitter.com/xnwxylMEYy

— MEXC (@MEXC_Official) December 24, 2023

“Recently, there have been rumors on social media about the MEXC_CEO Twitter account. We are sorry for any confusion caused by this incident and would like to clarify the following…”

MEXC calms community

According to the post, the account in question was used for promotional activities and maintaining brand image in the early stages of the company’s operation. However, it was revealed that the firm never officially verified the account and did not make an announcement to that effect because of the limited engagement on the “MEXC_CEO” account.

As a result, many users believed the account was linked to the company and its former CEO who resigned last year. The platform also restated that the user has no official contact with the firm and apologized for the issue.

“We sincerely apologize for any confusion caused by this incident. In the future, MEXC will handle such events more cautiously, and we have reflected on and made the following improvements…”

Going forward, the exchange will make public disclosure of personnel changes on official platforms and has removed all tweets from the former CEO to avoid misunderstanding including rolling out a verification platform.

Users have lauded the timely response of the exchange as fear grew over the development leaving traders in confusion over the next line of action. In addition to the account, deletion was a withdrawal issue flagged by users on Dec 16.

MEXC denies accusations

According to several posts on X, the exchange allegedly froze some user accounts over “abnormal trading activities,” including a trader who claimed to have lost $92,000.

The trader claims to have made a profit through new trades on the futures market in 15 days but saw his account frozen the next day.

“I contracted the support and submitted documents And then on the second day funds in the accounts were completely wiped out Along with the order history.”

MEXC addressed the issue on X calling the rumors baseless and an attempt to smear the image of the company adding that all operations are running smoothly on the platform. The post went further to state that the exchange opposes false information and reserves the right to take legal action.

Dear MEXCers,

Recently, there have been rumors circulating on the internet trying to smear the platform by spreading misinformation and baseless claims. We would like to clarify the facts for our valued users to ensure that the information you receive is accurate and truthful.… pic.twitter.com/APA3JZsBw7

— MEXC (@MEXC_Official) December 24, 2023