Cryptocurrency exchange MEXC has been accused of taking back profits when customers made abnormally large profits. In response, MEXC stated that "users engaged in normal trading activities will not be affected" and that these policies are to protect the exchange against market manipulation. Some customers claim that money was unfairly withdrawn from their accounts at the exchange.

MEXC is the 11th largest centralized cryptocurrency exchange with daily spot trading volume of approximately $1.3 billion, according to CoinMarketCap. The exchange, especially known for its perpetual futures trading platform, has a daily trading volume of over $7 billion.

A MEXC user claimed that the exchange froze his account and deleted some of his funds. The user stated that his account suddenly stopped working when BONK, ICP, SATS, and GROK altcoin perpetual futures rose between 380% and 2200%. He later noticed that $33,658 had been deducted from his account and that the transaction was not recorded in his transaction history.

The user, who asked for help from customer service, said that MEXC representatives were taking measures to compensate for losses from his account due to "abnormal trading activities." The user requested a transaction record showing the amount deducted for tax purposes, but claimed that the exchange did not provide this information and later deleted the entire transaction history.

MEXC stated that its risk control policy does not affect ordinary users "engaging in normal trading activities" and that it has an appeals process for users who feel there are unfair discounts.

Cointelegraph was notified of a similar situation by another MEXC user in February. The user claimed that the exchange caused liquidation by freezing his transactions, preventing him from making trading losses.