Last week, the Kaspa community expressed concerns over the suspension of withdrawals on MEXC and possible price manipulation. MEXC addressed these concerns with clarifications.
Technical Challenges of Kaspa Withdrawals
On March 26, MEXC suspended Kaspa withdrawals, causing alarm among users. The official statement from MEXC cited technical issues due to high transaction volumes from small mining deposits. The exchange redesigned its system to enhance functionality.
Asset Backing and Market Behavior Explanations
Some community members questioned MEXC's transparency, comparing it to Kraken. MEXC refuted these comparisons, citing a lack of objective data supporting such claims. The exchange emphasized its openness to criticism based on facts.
Service Resumption and Community Reaction
MEXC resumed Kaspa withdrawals on March 28 after system upgrades. Despite technical resolutions, the incident sparked debates on transparency in crypto exchanges.
The technical issues with Kaspa withdrawals on MEXC have been resolved, but the situation highlighted the need for better communication between exchanges and crypto communities.
