MEXC, a digital asset exchange, has reassured users regarding concerns about a deleted social media account presumed to belong to its CEO. The company clarified that it has no official affiliation with the account.
On December 24, in a post on X (formerly Twitter), the exchange alleviated community fears by addressing various issues, including the confusion surrounding the deleted account ‘MEXC_CEO.’
MEXC calms community
As per the announcement, the mentioned account was utilized for promotional purposes and brand management during the initial phases of the company’s establishment. However, it was disclosed that the company never officially verified the account and refrained from making an announcement in that regard due to the limited engagement on the “MEXC_CEO” account.
Consequently, numerous users assumed a connection between the account and the company’s former CEO, who resigned last year. The platform reiterated that the user is not officially affiliated with the company and expressed apologies for the confusion.
“We sincerely apologize for any confusion caused by this incident. Moving forward, MEXC will approach such situations with increased caution, and we have implemented and reflected on the following improvements…”
In the future, the exchange will announce personnel changes through official channels and has taken steps such as the removal of all tweets from the former CEO to prevent any misunderstandings. They are also implementing a verification platform.
Users have praised the exchange for its prompt response as concerns escalated amid fears, leaving traders uncertain about the next course of action. In addition to the account deletion, users raised concerns about a withdrawal issue on December 16.
Denied accusations
Numerous posts on X allege that the exchange has frozen certain user accounts citing “abnormal trading activities,” with one trader asserting a loss of $92,000. The trader claims to have generated profits through new trades in the futures market within 15 days but discovered their account frozen the following day.
“I reached out to support, submitted documents, and then on the second day, funds in the accounts were completely wiped out along with the order history.”
MEXC responded to these claims on X, dismissing them as baseless rumors aimed at tarnishing the company’s reputation. The company asserted that all operations on the platform are running smoothly. The post further emphasized the exchange’s opposition to false information and indicated its right to pursue legal action.
