The Kaspa community is in a dispute with the MEXC exchange over recent events, including a withdrawal pause and possible KAS price manipulation.
MEXC Withdrawal Issues
On March 26, the MEXC exchange paused Kaspa withdrawals citing technical upgrades, which left the community dissatisfied due to a lack of transparency. Kaspa Report noted that exchanges should inform clients beforehand. Critics argue that MEXC could have set up a separate wallet to continue withdrawals but didn't, while KRC-20 token transfers remained active.
Allegations of Manipulation
The community accuses MEXC of using bots or paid agents to curb criticism and questions the timing of events: following a nearly 50% increase in Kaspa's price, MEXC halted withdrawals, and the price then stagnated. Many believe this is not a mere coincidence.
The Bigger Picture
Kaspa Report emphasizes that this situation highlights the need for decentralized technology. Centralized exchanges have significant power and can make such moves without major repercussions. The Kaspa community sees this as a challenge and stresses the importance of moving towards decentralization.
The future of this situation remains uncertain. The Kaspa community will continue to observe developments, hoping for a resolution.
