The cryptocurrency industry faces significant fraud problems that require new solutions. MEXC has introduced an innovative security approach, achieving a 62% reduction in fraudulent activity.
Traditional Security Failings
Many crypto platforms operate under the flawed assumption that fraud networks will always stay one step ahead. This mindset creates a cycle where exchanges focus on damage control rather than prevention.
Industry estimates suggest crypto fraud costs users over $14 billion annually, primarily impacting retail traders. Traditional security measures like manual reviews and basic systems are ineffective at preventing fraud.
AI Security Revolution
MEXC has achieved significant progress through AI-powered monitoring systems. These systems do not wait for fraud to happen; they intercept suspicious patterns in real time, creating a predictive security model.
This approach reduces the cost of security while increasing efficiency, enhancing customer service.
New Approach to High-Risk Challenges
MEXC implemented a 365-day restriction mechanism for high-risk accounts, representing an economic attack on organized fraud networks. This compels criminals to target easier victims.
During recent reviews, the platform identified users with potential compliance risks and implemented temporary restrictions and detailed KYC requirements.
MEXC has shown that security challenges in the crypto industry can be solved through economic approaches, rather than just technical ones. A 62% reduction in fraud serves as a model for other market participants.
