Hong Kong regulator warns about scammers masquerading as MEXC crypto exchange

Hong Kong's Securities and Futures Commission (SFC) has warned the public about fraudulent organizations posing as well-known cryptocurrency exchange MEXC.

The SFC said that during its investigation into the activities of illegal virtual asset service providers, the agency, together with law enforcement agencies, identified approximately eight fraudulent websites. They all contained the name «MEXC» in their domain names, such as «mexczx.icu» and «mexczx.co».

Scammers trick people in various chats and groups into depositing funds into a designated bank account for crypto trading and investment. However, when users try to withdraw funds, they find that they have been scammed.

In September 2023, the SFC announced its intention to publish a list of licensed crypto companies and virtual asset trading platforms whose license applications are pending. This list is intended to help the public identify unregulated crypto platforms in Hong Kong and protect themselves from scammers.

At the end of last year, MEXC users began to fear that the exchange might be facing problems.. The reason for these concerns was the sudden deletion of the MEXC_CEO account, which may have belonged to the CEO of the exchange, John Chen Ju.. MEXC later denied rumors of problems and said the trading platform was operating smoothly.