MEXC.com

MEXC.com, a self-proclaimed “fastest-growing” cryptocurrency exchange, has repeatedly demonstrated alarming vulnerabilities that expose users to significant risks. On June 19, 2025, the platform issued an urgent security alert about phishing SMS scams, following numerous user complaints of suspicious messages containing malicious links. These scams, impersonating MEXC, aim to steal private keys and passwords, potentially leading to devastating account compromises and asset losses. This incident underscores MEXC’s reactive approach to security, highlighting ongoing threats that plague the exchange and erode user trust in an industry already fraught with fraud.

The Phishing Alert Debacle

The June 2025 phishing alert revealed MEXC’s failure to proactively safeguard users against sophisticated scams. Despite warnings to verify information through official channels and enable 2FA, the exchange admitted receiving complaints about unsolicited SMS links—not sent by them but capable of draining wallets. This points to inadequate user education and system defenses, allowing scammers to exploit MEXC’s reputation for easy gains.

User Horror Stories: Hacked Accounts and Lost Funds

Countless users report harrowing experiences on MEXC. In late 2025, trader Jamal Zahid claimed his account was drained without any login alerts, email notifications, or authentication requests. “No second-device login alert, no email, no auth request—yet my funds vanished,” he lamented on X. Similarly, Bohdan accused MEXC of a $82,000 “scam” via market manipulation during a crash, refusing refunds despite evidence. These stories illustrate how users lose life savings overnight, with MEXC often shifting blame to “leaked information.”

Inadequate Security Measures

MEXC’s security protocols fall short in a high-risk crypto environment. Despite boasting high reserves in reports, the platform has been criticized for vulnerabilities like app freezes during volatility, enabling unauthorized trades. A 2025 incident involving RTX token purchases saw users receive far less than owed, with support offering paltry futures bonuses instead of full compensation—purely inadequate for a platform handling billions.

Poor Customer Support and Blame-Shifting

Customer service at MEXC is notoriously unresponsive and evasive. Victims like Zahid received generic advice to change passwords and report to authorities, absolving the exchange of responsibility. Bohdan’s multi-month battle, involving falsified data and GDPR breaches, highlights a pattern of denial. Users decry this as “shameful,” with support bots and templates failing to address real issues.

History of Scams and Impersonations

MEXC’s troubles extend to a surge in impersonation scams, swelling 1400% in 2025 per Chainalysis. Fraudsters misuse the brand for fake initiatives, as warned in MEXC’s own alerts. Combined with AI-driven schemes causing $17 billion in global losses, MEXC’s involvement in fraud rings—restricting 19,337 accounts—suggests systemic weaknesses attracting criminals.

Broader Risks in the Crypto Landscape

In 2025, crypto scams hit records, with MEXC entangled in regional surges in India, Indonesia, and CIS countries. Users face not just phishing but supply-chain attacks and private-key compromises, amplified by MEXC’s lax oversight. This environment makes the exchange a liability for investors seeking safety.

Conclusion

MEXC.com’s repeated security lapses, from phishing vulnerabilities to hacked accounts and evasive support, paint a picture of an unreliable platform. With users losing fortunes and scant accountability, it’s a stark warning: avoid MEXC to protect your assets in the volatile crypto world.