The cryptocurrency exchange MEXC, based in Singapore, has become the subject of negative publicity in the crypto community. Users of the exchange are urging to withdraw their funds due to allegations of freezing customer assets.

On Sunday, many customers of the exchange reported difficulties in withdrawing their cryptocurrency assets, especially Kaspa (KAS) tokens.

The situation became even more tense when MEXC's CEO, John Chen, deactivated his account on the X social network. This raised concerns in the community, and many speculated that the exchange's leadership may have gone into hiding due to financial troubles.

Simultaneously, MEXC's official account on the X social network denied any connection to the mentioned account:

However, the response from MEXC representatives did not clarify the situation. In a statement published in 2021, the MEXC team listed the account "@MEXC_CEO" as the profile of their CEO. The community has taken note of this fact and demands explanations, which have not been provided thus far.

At the same time, a representative of MEXC denied any issues with fund withdrawals and stated that "MEXC continues to operate smoothly, and all systems are functioning as usual." Furthermore, it was announced that there are intentions to take legal action against those spreading defamatory statements about the business's collapse.