Rumor № 1: “Dumping MINIDOGE”
Due to the recent spread of malicious rumors such as “MEXC dumping MINIDOGE” in the community, the reputation of MEXC has been negatively affected. In reality, as a trading platform, MEXC only provides users with a trading venue and does not interfere or get involved with the secondary market. All data regarding deposits can be confirmed on the blockchain.
According to the investigation, since the launch of the deposit services, two MEXC users have made high-value deposits. The deposits of the two addresses account for 82% of the existing circulation on the platform, which has caused the price of MINIDOGE to fall. Some large holders had hidden intentions of misguiding and confusing others and they have directed the topics and conflicts towards MEXC as well as making liquidation operations at the same time. Unaware of this, the users have put all the blame on MEXC. MEXC would like to remind all users that the investment of digital assets involves risk. It is difficult to identify which is true or false as there is an abundance of information within the community. Please be careful and think rationally.
Currently, MEXC has delisted MINIDOGE and started MEXC Investor Protection Fund and alternative schemes for the users who are affected by the withdrawal issue. For more details, see below:
In the future, MEXC will strengthen the token listing examination and is determined to put an end to these kinds of matters that harm the security of users’ assets.
The relevant evidence on the blockchain are as follows：
Total deposit amount for Account A：2,189,296,399,050.24MINIDOGE (most of which has already been sold)
Account A’s deposit address: 0x888b31d585a083b213073aba291064a7f72c0bab
Blockchain Explorer records (by address): https://bscscan.com/token/0xba07eed3d09055d60caef2bdfca1c05792f2dfad?a=0x888b31d585a083b213073aba291064a7f72c0bab
Total deposit amount for account B：3,337,650,781,779.45MINIDOGE (most of which has already been sold)
Account B’s Deposit Address：0x0a662f9664c08ab9c325981387bca7aeb539069e
Blockchain Explorer records (by address): https://bscscan.com/token/0xba07eed3d09055d60caef2bdfca1c05792f2dfad?a=0x0a662f9664c08ab9c325981387bca7aeb539069e
Rumor № 2: “User Refunds”
Recently, MEXC noticed that there are some people who posted malicious articles about MEXC and fabricating rumors that MEXC has clarified countless times, with the intention of confusing the public. According to the other investigation, MEXC has encountered organized and systematic public opinion attacks and slander from competitors, third-party organizations. MEXC has already provided a response in regards to these matters, at the same time, collected the relevant evidence to investigate the legal responsibilities of organizations and individuals that spread such malicious rumors and slander. MEXC emphasizes “Do not commit evil acts”, and also hopes that the partners and media will stick to this until the end.
In addition, Blockchain Firewall Security Team reported that they discovered some illegal parties spreading false and unverified information, such as “A certain platform shall suspend operation.”, “A certain platform shall refund their users.” in the community, causing the community to panic which led to users being guided to false trading platforms set up by these scammers. Blockchain Firewall reminds users to be aware and improve self-awareness and to not believe in such rumors or spread rumors and beware of this new scam involving false information in order to protect the safety of personal assets. Please do not transfer money to any address or platform that does not have identity verification.
For more details: https://www.odaily.com/newsflashes/251484.html
MEXC would like to remind all users to be aware of scamming methods such as “Money laundering” and “Account abnormality”. MEXC will never ask for your account password, verification code and other information in any way. If users encounter cases of suspected SMS Phishing or calls, please obtain verification through MEXC’s official verification channels:
Rumor № 3: “MEXC made political remarks”
In fact, the so-called “MEXC political opinion” refers to malicious forgery of individual users on the MEXC messenger, by forging and posting using MEXC’s icon. MEXC has made clarifications in regards to this matter, at the same, time reported relevant information about the poster to the relevant authorities.
Rumor № 4: “MEXC does not distribute dividend tokens”
In fact, MEXC will have irregular snapshots. Users will be allocated with new token assets according to their position situation. Due to the large amount of data, it will take some time for the technology to process the distribution. More relevant data can be obtained through the BSC Hot Wallet inquiry link: https://bscscan.com/address/0x4982085c9e2f89f2ecb8131eca71afad896e89cb . MEXC is user-centric and prioritizes users’ interests. Users’ supervision and feedback are welcomed.
Rumor № 5: “MEXC Shadow Wallet”
In reality, MEXC currently have two BSC On-chain Wallet addresses：
A. Withdrawal address：https://bscscan.com/address/0x4982085c9e2f89f2ecb8131eca71afad896e89cb
B. Cold wallet Address：https://bscscan.com/address/0x0211f3ceDbEf3143223D3ACF0e589747933e8527
For the sake of asset safety, most of the assets will be placed in the cold wallet. A smaller amount of assets will be placed in the withdrawal address for convenient withdrawal.
If the assets in the withdrawal exceeded the set threshold, when the exchange collects user deposits, it will automatically allocate the deposit to the cold wallet address. If the withdrawal asset does not exceed the set threshold, the exchange will allocate the tokens to the withdrawal address. The two links below are the transfers from the cold wallet to the hot wallet for convenient withdrawals:
A: On 14th June at 5.52pm, transfer from cold wallet to hot wallet, transfer of 80 million tokens:
B: On 15th May at 10:10a.m., from cold wallet to hot wallet, transfer of 50 million tokens：https://bscscan.com/tx/0xf4066f8094c82a07f954722eb7a778bfed706296c7832dca0cf8223046b03da0
Proofs that 0x0211f3ceDbEf3143223D3ACF0e589747933e8527 belongs to MEXC cold wallet can be viewed through:
The site will label it as MEXC’s wallet.
As the name suggests, deposit wallets mainly involve users’ tokens, which is similar to users’ bank addresses. The trading platform will most likely provide wallet addresses upon user registration. The difference that sets this apart from bank account users is that the users will only use the address when saving up the tokens. Most coin withdrawals are made through the hot wallets provided by the trading platform. Since the number of wallets is huge, the accounts controlled by the trading platform are 99% classified as this.
Hot wallet, also known as the exchange’s digital wallet, is mainly used as a medium for the circulation of funds between deposit addresses and cold wallets as well as allow users to withdraw their tokens. The proportion of hot wallets is smaller, with most exchanges’ having between 10 to 30 hot wallets, but such wallets have much more frequent trades.
A cold wallet is the trading platform’s offline wallet. The trading platform trades on a daily basis, some of the funds will be deposited (after users deposit tokens into the wallet and will not withdraw for a certain amount of time) or when the hot wallet accumulates a certain amount of funds, it will all be transferred to the cold wallet. In the normal process, a cold wallet interacts only with hot wallets, while normal deposit addresses will not have any direct interaction with it at all. The exchange will physically isolate the private key (disconnected or shut down). The cold wallet’s time spent offline could eliminate the possible attacks from potential hackers.
About Delisting BABYDOGE
By collecting the opinions of the community users’, MEXC delisted the spot and margin trading of BABYDOGE/USDT. For the users who are still holding BABYDOGE, please withdraw as soon as possible. MEXC will reduce the withdrawal costs in order to protect the rights and interests of users.
Withdrawal Process: In [Assets] — [Spot] — [Withdraw]
Untick to unhide small assets, search for BABYDOGE funds and proceed with the withdrawal https://support.mexc.com/hc/zh-cn/articles/4403889673114-MEXC下线BABYDOGE-USDT现货及槓杆交易的公告
About Delisting MINIDOGE
After communicating with the MINIDOGE project party, the project party has canceled the withdrawal and dividend distribution to MEXC’s addresses. Normal withdrawals are currently supported. MEXC has delisted MINIDOGE so please withdraw your tokens to your official wallet. In addition, in order to protect the interests of the users, Scheme 1 works normally and users can choose to exchange or withdraw.
For Scheme 1, please see the announcement: Announcement of Delisting MINIDOGE to Safeguard Users’ Assets
Please be aware that：
1. Only registered users can exchange where one person can exchange only once. As the withdrawal recovery time is less than expected, the exchange support time is now updated to 9 days. Please fill in the form as soon as possible if you wish to convert as the exchange operation will be closed soon.
The form will be closed on 17th July 2021. Please register as soon as possible if necessary:
2. The users who signed up for the exchange of MINIDOGE tokens should ready their USDT in their spot account and hold the number of tokens before purchasing the exchange tokens.
3. Due to the project mechanism, there will be transfer losses during the withdrawal. MEXC will listen to the community and protect users’ interests in the future.
If you have any other inquiries, please feel free to contact our online customer service or submit a request form. Thank you for your understanding and support!
MEXC Global: https://www.mexc.com/