MEXC has once again received reports from users who claim their accounts have been locked without their permission. The exchange has reopened an investigation to determine why the account was locked.
MEXC, one of the most widely used global exchanges, is once again receiving social media reports of user accounts being locked. Traders have complained that their funds are put on hold and withdrawals are prohibited when larger amounts reach their accounts.
One user claimed that MEXC had $300,000 in a locked account and needed a 40% haircut to release the funds.
“MEXC locked my account which had about $1,000 in it. 300,000 dollars. I fully followed their verification process and submitted all documents they requested. ”
“A few days later, a support representative contacted me directly on my registered phone number and demanded 40% of the funds in exchange for unfreezing my account. ” Displayed recent posts However, MEXC denied that the incident occurred, stating that this news was a strategy against agricultural transportation.
Former users also shared their experiences and claimed that MEXC was deliberately deceiving successful traders by denying them withdrawals.
Trolled by @MEXC_Official pic.twitter.com/KTZAKEGrLi
— 🏴☠️Cepi (@CepeGRS) February 21, 2026
The exchange told Cryptopolitan that it could not identify the user’s ID from social media posts. Crypto investigator ZachXBT also warned User reports can be a tool to drive engagement and possibly insert cryptocurrency fraud. Along with reports of frozen funds, scammers posted fake links on behalf of Mexico.
The exchange is currently investigating this claim and trying to determine if it applies to actual users.
“We are actively attempting to contact the users mentioned in these reports to investigate the claims. However, to date, no verifiable UID or concrete evidence has been provided by the individual to support these claims. ” Mexico responded with a statement.
MEXC also held funds suspected of theft.
Another user who complained about locked funds reported $20,999 in USDT. of User ID discovered by investigators.
In this case, the user ID was only used by the researcher as a screenshot. Further inspection by MEXC revealed that the ID was associated with funds of questionable origin.
“Our team has confirmed that this account is involved in the theft of funds. This issue has been escalated to the relevant Compliance and Risk Management departments and is being managed. ” said Mexico.
MEXC has received multiple social media reports that it is withholding users’ funds. Issues may be caused by users in blocked jurisdictions or by MEXC’s internal processes.
As a cryptopolitan reportedone of the high-profile cases came from trader White Whale. He made repeated calls to MEXC until the funds were released. His biggest complaint was that even though the account was fully verified, MEXC required an in-person visit to release the funds.
Other users reported that they made a deposit, but it didn’t show up in their account afterwards. White Whale also expresses skepticism about Mexico’s actual reserves.
MEXC is currently reporting: 9,087BTC Reserves are dwindling due to heavy inflows in the past few weeks.
The exchange still faces skepticism. This is because the exchange is one of the few remaining unregulated markets and serves an audience of international traders, potentially posing more significant risks. MEXC must also become MiCAR compliant by the end of June or face restrictions on its operations in the EU.
