Crypto news

Crypto’s Cat and Mouse Game: MEXC Busts Manipulators

BBG News

In a tale as old as time, MEXC has vanquished a band of mischievous traders, whose antics included the artful dodges of self-trading, the cunning ruses of spoofing, and the brazen boldness of front-running.

Oh, the drama! The cryptocurrency exchange MEXC recently declared victory over a coordinated cabal of market manipulators, hailing from the distant lands of Vietnam and the enigmatic Commonwealth of Independent States. Forty-four users from Vietnam and 138 from the CIS were apprehended, while 168 Vietnamese accounts and over 1,500 CIS accounts found themselves in the deep freeze.

In a blog post dated March 25, MEXC dropped the bombshell: the “presence of large groups and institutional-level actors” in these shenanigans. Concerning, indeed! Data from the first two months of the year revealed a 60% surge in such dastardly deeds. 🚨

Hot on the heels of a Kaiko Research report that DeFi’s market manipulation was scaring off institutional investors, MEXC’s revelation could not have come at a worse time. 🐇 And as reported by TopMob, regulators might just be roused from their slumber to rain down rules upon the DeFi landscape. 🌧️

MEXC went on to warn that the manipulators’ use of institutional-level resources introduced a whole new world of risk. “We are witnessing the evolution of manipulations,” they wrote, “from retail to group and even quasi-institutional level, posing systemic risks to individual exchanges and the market infrastructure as a whole.” 🦖

But wait, there’s more! Some accounts were trading over $20 million a day, creating short-term distortions and volatility spikes of up to 120%. If not for MEXC’s sharp eyes, we might have seen mass liquidations and market prices going haywire in mere minutes. 🎢

MEXC, ever the responsible party, plans to share its findings with the powers that be. Tracy Jin, COO of MEXC, warned of a new wave of threats to digital markets and the need for platforms and regulators to get their act together. 🤝

Read More

2025-03-26 11:03

Previous post I Don’t Even Have to Think About It!
Next post Shocking Governance Scandal: UMA Tycoon Plays the System Like a Fiddle!