MEXC Threatens Legal Action Amid FUD Clams of MEXC CEO Vanishing

• MEXC faces community panic over reports of frozen assets and supposed CEO vanishing on X.
• Users allege withdrawal issues, sparking FUD about potential insolvency.
• MEXC disclaimed withdrawal concerns, threatening legal actions against the entities spreading defamatory statements.

MEXC, a prominent crypto exchange based in Singapore, has become the latest target of panic messages of FUD in the crypto community. Crypto market participants have urged one another to remove their funds from the exchange amid claims that the trading platform was freezing users’ assets. 

For instance, many users lamented on X that they could not withdraw their tokens. The complaint was more overwhelming from users attempting to move out Kaspa (KAS) tokens from MEXC.

However, the panic calls gained momentum as the crypto community speculated that John Chen, the CEO of MEXC, had deactivated his X account. In particular, many crypto enthusiasts shared screenshots of a deactivated X handle, “@MEXC_CEO,” suggesting that the exchange leadership was eliminating its presence in the community amid allegations of insolvency. Prominent crypto figures such as Crypto Tony also reposted …

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