MEXC Freezes 1,500 Accounts Amid Market Manipulation Crackdown
MEXC, a prominent crypto exchange, has frozen 1,500 accounts linked to a significant market manipulation scheme involving large groups of traders.
MEXC, a Seychelles-registered cryptocurrency exchange, has recently announced the freezing of 1,500 accounts that are allegedly linked to a significant market manipulation scheme involving multiple actors.
On March 25, 2025, the exchange reported concerns over the involvement of substantial groups and institutional-level participants in such manipulations. The exchange identified that some frozen accounts exhibited daily trading volumes exceeding $20 million, causing volatility spikes of up to 120% in the affected trading pairs.
“Such actions, if not promptly identified, could lead to mass liquidations and distortion of the asset’s market price within minutes.” — MEXC Press Release
According to the company, this highlights a shift in manipulation tactics from retail traders to more organized and quasi-institutional groups, which poses systemic risks for exchanges and market infrastructure as a whole.
Key Points
- MEXC identified two groups engaged in manipulative trading practices such as self-trading, spoofing, layering, and quote stuffing.
- The exchange noted a 60% increase in these malicious trading activities from January to February 2025 compared to the previous year.
- MEXC’s COO, Tracy Jin, mentioned, “We see this case as an indicator of the next wave of threats to digital markets — organized, large-scale, technically equipped groups capable of coordinating actions on dozens of tokens and hundreds of accounts.”
For more information, you can check the MEXC press release.
