Cryptocurrency exchange MEXC announced the freezing of over 1,500 accounts linked to market manipulation.
Discovered Groups
MEXC identified two coordinated groups of market manipulators operating in Vietnam and CIS countries, with some accounts showing daily trading volumes exceeding $20 million.
Manipulation Methods
The groups engaged in practices such as self-trading, spoofing, layering, front-running, and quote stuffing. According to the exchange, such activities increased by 60% from January to February 2025 compared to late 2024.
MEXC's Measures Against Manipulation
The exchange has taken steps to mitigate the impact, including rolling back suspicious transactions and suspending all identified accounts. MEXC also implemented a monitoring system for suspicious accounts, placing flagged participants under enhanced surveillance for at least 30 days.
Cryptocurrency exchange MEXC has strengthened its measures to detect and combat market manipulation to protect both users and the market infrastructure.
