🚨 Crypto Drama Unfolds: MEXC Nabs1.5k+ Manipulators! 🚨

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Imagine, if you will, a world where cryptocurrency trading is as honest and straightforward as a game of three-card monte at a carnival. Well, folks, MEXC has decided to play the role of the spoilsport sheriff, identifying and suspending over1,500 accounts involved in what can only be described as a “coordinated market manipulation scheme.” This scheme, by the way, spanned from the bustling streets of Vietnam to the mysterious lands of the CIS countries. 🕵️‍♂️💼

Our friends at MEXC, in their infinite wisdom, have frozen these accounts, linking them to a “large-scale coordinated group of market manipulators.” After a Sherlock Holmes-level internal investigation, they uncovered not one, but two groups operating with the subtlety of a sledgehammer. Some of these accounts were throwing around daily trading volumes exceeding $20 million—casual, right? 😏💰

In their tell-all blog post, MEXC detailed the shenanigans these groups were up to: “self-trading, spoofing, layering, front-running, quote stuffing,” and other such delightful activities that make you wonder if these folks have ever heard of playing fair. According to MEXC’s calculations (and they’re pretty good at math, it seems), these coordinated malicious trading activities have seen a60% increase from January to February2025 compared to the end of2024. The exchange noted that these schemes are now using “institutional-level access to liquidity, infrastructure, and algorithmic strategies,” because why use a peashooter when you can have a cannon? 📈🚀

“We are recording the transformation of manipulations from the retail to the group and even quasi-institutional level, which carries systemic risks for both individual exchanges and the market infrastructure as a whole.”

– MEXC, probably while wearing a monocle and sipping tea 🧐☕

To mitigate the impact (and probably to avoid becoming the next plotline in a financial thriller), MEXC has taken steps such as rolling back suspicious transactions and suspending all identified accounts. They’ve also implemented a monitoring system for suspicious accounts, placing flagged participants under “enhanced surveillance for at least30 days.” Because if there’s one thing we’ve learned from spy movies, it’s that surveillance solves everything. 🕵️‍♂️🔍

Now, let’s not forget the dramatic revelations from earlier in March, when blockchain sleuth ZachXBT called the nearly $1.5 billion Bybit hack “eye-opening.” He warned that without government regulations, the industry’s security problems might not improve, potentially “hurting our entire industry.” ZachXBT pointed out that several “decentralized” protocols—eXch and THORChain, to name a couple—have generated nearly all of their monthly volume and fees from transactions linked to North Korea. Despite this, they “refuse to take any accountability,” because apparently, accountability is so last season. 🤷‍♂️🔒

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2025-03-26 11:18