Users of cryptocurrency exchange MEXC have raised concerns over withdrawal problems.

The FUD was further fueled by the disabling of an account associated with the exchange’s CEO.

MEXC has issued an official report addressing the concerns. The volatile nature of the crypto industry keeps investors grounded in an unwavering commitment to vigilance and caution, swiftly identifying any anomalies that may unsettle the balance of the ecosystem. Recently thrust into the spotlight is cryptocurrency exchange MEXC, as users voice concerns of delayed withdrawals amid other unusual platform activities. The plot thickened when alerts surrounding a reported deletion of an account associated with the exchange’s CEO emerged, casting a shadow of doubt on the exchange’s operations. In response to the mounting concerns, MEXC has issued an official report in hopes of assuaging user apprehensions. MEXC Calms Users ConcernsOn December 24, MEXC responded to ‘rumors’ surrounding the deletion of an account assumed to be associated with the platform.

The tweet followed reports that the exchange’s CEO John Chen Ju had deleted his X account, sparking confusion and speculation about potential legal troubles for the exchange.MEXC emphasized that while the said account was initially utilized for promotion, it has been inactive since December 2022, following the departure of its CEO in July of the same year.

“December 2022: The original CEO officially resigned from MEXC. The Twitter account MEXC_CEO was never officially verified by the MEXC platform, and due to its minimal content and followers, MEXC did not make a specific announcement (this is the fundamental reason for the widespread misunderstanding caused by the deletion of this account),” the tweet stated.The exchange urged users to verify the official accounts associated with the exchange, and pledged to make significant announcements in relevance to personnel changes to keep users abreast. While MEXC’s comments offer reassurance regarding uncertainties about its CEO’s account exit, several users still remain unconvinced. FUD Over MEXCSince December 23, 2023, users have expressed concerns of abnormal account activities on MEXC via social media platform X (formerly Twitter), raising questions about the exchange’s stability and financial health.

The exchange has come under scrutiny for reported asset freezes and delayed withdrawals, leading some users to recommend asset liquidations amid fears that the platform may be ‘going under.”However, MEXC has dismissed the claims as misinformation and baseless, asserting that it is “operating smoothly and all systems are normal”.The exchange urged users to disregard misleading information, and warned of potential legal actions if the accusations persist.On the Flipside Investors should stay vigilant for updates on the unfolding topic to understand how to ensure their safety, if necessary.

Some users have suggested that MEXC could be headed for a bankruptcy filing, but there is no evidence to substantiate these claims. Why This MattersMEXC’s response to the uncertainty offers assurance to the platform’s users and investors, however, users must remain on their guard to ensure protection from potential losses.Hong Kong is embracing crypto ETFs. Find out more:Hong Kong Opens Door To Crypto ETFs Applications Amid US BuzzPredictions are rolling in for the 2024 crypto industry, read more:Bitfinex Forecasts Crypto Users to Top 850 Million in 2024