MEXC clarifies that only traders with outstanding debts are subject to ‘clawbacks’ amid user complaints of missing funds.

MEXC, the 11th largest centralized crypto exchange by trading volume, has refuted allegations of “stealing” customers’ profits in cases of unusually large gains. In a recent statement, the exchange clarified that its clawback policies, which some customers claim resulted in unjust funds deletion, are intended to safeguard against alleged market manipulation and will not affect users engaged in normal trading activities. MEXC, known for its popular perpetual futures trading platform, handles approximately $1.3 billion worth of spot trading volume daily. However, a user named “Al Gore Rhythms” reported that the exchange froze his account and deleted funds following profitable crypto perpetual futures trades. After realizing that $33,658 had been deducted from his spot account without any record on his transaction history, the user sought clarification from MEXC’s customer service. Allegedly, the exchange responded by stating that the deductions were made to recover losses resulting from abnormal trading activities. When the user requested a transaction record for tax purposes, MEXC refused and subsequently deleted his entire transaction history. Another user, Coach K Crypto, also claimed that the exchange unjustly deducted $330,000 from his account due to abnormal profit. MEXC countered these allegations by reiterating that its risk control policy does not impact ordinary users engaged in normal trading activities, and an appeals process is available for users who believe they have suffered unjust deductions. In the past, similar claims have been made against MEXC, which the exchange has dismissed as misinformation, stating that clawbacks are only implemented after a thorough review in accordance with user agreements. Cointelegraph reached out to MEXC for comment but did not receive a response at the time of publication.