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Global cryptocurrency exchange MEXC has taken bold action against market manipulation by freezing more than 1,500 accounts involved in coordinated malicious trading. The action comes as such activities increased by 60% compared to late 2024.
Exposing Coordinated Manipulation
The investigation by MEXC found two groups operating in an organized manner with various illegal practices, including:
Self-trading – Artificially generating demand by conducting trades between the same entity’s accounts.
Spoofing – Sending large fake orders to mislead market participants and manipulate asset prices.
Disruptive algorithmic trading – Employing high-speed bots to manipulate order books and market conditions.
These schemes combined had over $20 million worth of daily volume, which greatly affected market integrity.
Regions Involved: Vietnam & CIS
The compromised accounts were linked to two regions:
Vietnam: 44 individuals controlled 168 accounts, which contributed to the manipulation.
CIS (Commonwealth of Independent States) region: 138 users managed more than 1,500 accounts, now all frozen by MEXC.
This action underscores MEXC’s dedication to ensuring a clean and equitable trading environment.
Enhancing Market Integrity
MEXC continues to upgrade its surveillance mechanisms and risk management procedures to identify and thwart such scams. The exchange encourages users to trade responsibly and follow regulations to prevent account suspension.
With evolving crypto markets, MEXC’s tough measures of enforcement are a stern message—no market manipulation.
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