MEXC Hit by Accusations from Anonymous X Account

An anonymous X account known as @Mystral_777 caused a storm on crypto Twitter after posting a 10-part exposé in the form of a thread accusing crypto exchange MEXC of everything from freezing withdrawals and extorting listing fees to sexual misconduct by executives (including references to leaked videos and hush money allegations).

This thread contains screenshots, DMs, and direct claims, none of which have been independently verified by law enforcement, recognized regulatory agencies, or Cryptopolitan.

According to Mistral, many crypto projects, including CateCoin, were charged more than $60,000 in listing fees and were then asked to make additional payments before listing. If they refused, no tokens were launched on the platform.

A screenshot of an email from MEXC’s listing administrator shows an alleged communication with CateCoin offering “marketing exposure” and demanding a quick response.

But the most serious accusation from Mystral was that MEXC froze withdrawals for users over $10 million and then closed support tickets without explanation.

Source: Mistral/X

A post from user @Tradecelb says he lost $18,500 in USDT. Another post from @nitwitkook claims that MEXC froze $14,000 and offered to refund only $3,000 following public backlash, but has not yet paid.

A third user on Reddit wrote that $30,000 in USDT and ETH was allegedly leaked via an internal MEXC wallet with no 2FA or support response.

Claims of retaliation, manipulation, and false involvement flood Mistral Thread

Mistral also accuses MEXC of trading against its own users, opening short positions right before a spike in coordinated liquidations, particularly for low-cap tokens. Many X accounts supported this, claiming that MEXC was manipulating the spot and futures markets, shorting listed tokens, and blocking withdrawals once profits were made.

User @van00sa posted that MEXC released the token while simultaneously shorting it and then freezing the funds to make up for the losses. Posts from CryptoVikings, MDXCrypto, and @OxNnachet accuse the exchange of quietly profiting from users’ trades and blocking access when traders become too successful.

One viral post with a screenshot of Mistral claims, “If you lose money, they keep it. If you win a lot of money, they lock your funds and charge you with fraud.”

Mystral also included screenshots alleging that MEXC uses bot services to inflate likes, comments, and followers. According to Mystral, 40-50% of MEXC engagements across its platforms are fake, citing analysis tied to its social media bot panel.

Mistral also shared a WhatsApp thread in which a whistleblower allegedly claimed that MEXC executive Cecilia Xu’s X account had been hacked and that hackers had found “bizarre orgy videos” on her phone, which allegedly involved a number of other MEXC executives.

Source: Mistral/X

A video mentioning the content was included in the thread, and an X user claimed that the woman in the video was Cecilia, but Cryptopolitan was unable to confirm that, and some commenters claimed the video was posted by X’s porn page over a year ago.

Other large accounts, including @zachxbt, have since demanded more transparency from MEXC, particularly regarding the alleged “shadow owner” named Tony, who, according to Zach, remains hidden behind layers of offshore entities. Mr. Zack publicly asked, “Why is MEXC hiding its status as a beneficiary from the public?”

MEXC executives refute some of Mistral’s accusations and admit internal failures

About an hour after the thread gained traction, Cecilia posted to X: “We messed up. We apologize to @TheWhiteWhaleV2. His money has already been released.” She also admitted:-

“I made a mistake communicating with him. I got emotional and I shouldn’t have done that. Since joining MEXC two months ago, I have been fighting behind the scenes to bring about change at MEXC. We have grown very quickly. A few years ago we were a very small exchange, but given our current size, our risk, operations and PR teams have not kept up.”

Cecilia also acknowledged that the company’s risk, operations and PR systems have not scaled to keep up with growth, promising that change is coming.

She did not address allegations of sexual misconduct, leaked images, bots or internal wallet theft. However, in another post shortly after, she claimed: “There is a difference between a risk management dispute and a bankruptcy. Mexico’s finances are strong. This issue is ongoing.”

Swing trading firm CryptoVikings responded to her apology by saying, “If it takes this long for an influencer to get their money back, what hope is there for ordinary users? There are over 1,000 cases like this.”

When Cecilia replies, “We’re going to release them,” the CryptoVikings retorts again with, “Why now? Why did you push back for months before acting?” Then Cecilia went silent.

Users claim $3.3 million of their funds are frozen in MEXC with no plans for release.

Still, the backlash continues. Trader @maxleebtc came forward with another case of his own after Cecelia and Mystral’s post and posted a screenshot showing that 3,300,000 USDT was locked in his MEXC account for 20 days and all withdrawal attempts were marked as “Withdrawal Failed.”

Max said he initially thought it was just a system issue, but support kept telling him to “please wait a moment” and later claimed there were “abnormal gains” in his account.

Source: MaxleeBTC/X

The chat logs he shared allegedly show MEXC officials telling him that his futures trading results were causing his funds to be “backed”, without providing a breakdown of how that decision was made. Max said he has contacted MEXC’s assistance multiple times, but so far their response has been automated or vague, and the funds remain frozen.