Tag: MEXC
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Whistleblower Request: Investigating the Red-Listed Crypto Exchange MEXC and Its Ties to Lithuanian EMI Paytend
FinTelegram has consistently flagged the crypto exchange MEXC, placing it on the Red Compliance List due to multiple regulatory warnings and poor customer feedback. We revealed that MEXC processes its FIAT transactions for cryptocurrency purchases via MEXC Estonia OÜ, which holds a crypto license in Estonia. This Estonian entity, in turn, uses Paytend Europe UAB, d/b/a s Paytend, a Lithuanian-regulated e-money institution, to handle FIAT payments through bank transfers.
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“Binance Style” Crypto Exchange MEXC Secures Another Regulatory Warning Issued by Spanish CNMV!
FinTelegram has already issued several warnings against the crypto exchange MEXC, which is apparently operated by Asians, and has shown how this "Binance-style" crypto exchange operates globally without regulatory permission with millions of customers. Recently, the Spanish CNMV also issued a warning after the German BaFin, the Austrian FMA, the UK FCA and other regulators had already issued warnings. FinTelegram has placed MEXC on the Red Compliance List.
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Caution Urged: Another Regulatory Warnings Against Crypto Exchange MEXC!
Recent months have witnessed a concerted effort by U.S. authorities, including the Department of Justice, the FinCEN, and regulatory bodies such as the SEC and the CFTC, to clamp down on crypto exchanges flouting financial laws and regulatory norms. However, the landscape in Europe presents a contrasting scenario where exchanges like MEXC continue their operations amidst allegations of illegal activities and regulatory infractions. Recently, the Hong Kong SFC warned against MEXC.
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Concerns Rise Over MEXC’s Unlicensed Operations in Multiple Countries
MEXC, a crypto exchange, is under scrutiny for offering services without proper licenses in various jurisdictions, including Canada and Australia, where market authorities have issued warnings against the platform's illegal operations. The U.S. has also restricted MEXC's activities, with the Financial Crimes Enforcement Network (FinCEN) denying permission due to compliance failures. Yet, insider reports suggest that MEXC continues to operate in the US market despite these bans.
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Crypto Exchange MEXC: Secures Scam Level Rating On TrustPilot; Issues Crypto Debit Card With Paytend!
FinTelegram has already issued several warnings against the crypto exchange MEXC. The points we criticized have still not been resolved. The website does not provide any information on the operators or regulations. These are essential details whose absence automatically results in a red flag. We found the Lithuanian EMI Paytend to be the payment processor for bank transfers. On Trustpilot, MEXC secured a 1.9-star rating with a poor trust level. Here is our update.
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MEXC: In The Absence Of Transparency, Rumors, And Allegations Rule!
FinTelegram has pointed out several times that MEXC is a non-transparent crypto exchange. The user agreement provides just as little information about the operators as the website. The names of the executives and the key team members are also not mentioned on the website. There is also no explanation of the regulation. MEXC is now threatening users with legal action if they make claims about account suspensions on social media.
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The MEXC Storm Continues: Discussion About The Deleted X Account Of Twitter CEO John Chen Ju!
The crypto exchange MEXC is on the red list on FinTelegram. This was the result of several reviews that revealed an unclear situation regarding regulation and the apparent secrecy surrounding the beneficial owners. In Estonia, the FIU revoked the crypto license of MEXC Estonia OÜ, which the company appealed against. Following the Grimace debacle and insolvency rumors, MEXC CEO John Chen Ju is said to have deleted his X account, which the scheme denies.
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Grimace Coin Mastermind Outmaneuvers Crypto Exchange MEXC In Strategic Crypto Battle!
The crypto community witnessed a significant event on December 19 when the mastermind behind the Grimace Coin, identified as Odysseus (@GrimesOdysseus), orchestrated a strategic financial maneuver. This move enriched its followers and resulted in substantial losses for MEXC. Grimace, launched in the spring of 2023, quickly gained traction, rewarding early backers with substantial profits.
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Attention: Asian Crypto Scheme MEXC Appeals Against The Revocation Of Estonian License!
The Estonian entity of the crypto scheme MEXC, MEXC Estonia OÜ, has appealed against the revocation of its license in court in Estonia. The appeal reinstated the license. Pending the court's decision, the license is therefore to be recognized as valid. It remains to be seen whether the court will confirm the FIU's revocation of MEXC Estonia's crypto license.
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OK, That’s Binance! What About MEXC And Crypto Payment Processors?
The crypto industry is struggling to find its place. This is currently most evident at Binance, which has just had to pay $4.3 billion to drop charges and lawsuits in the US. Binance CEO Changpeng Zhao had to resign and is to go to prison, say the prosecutors. In Europe, MEXC, a crypto exchange from Asia, is currently in the crosshairs of regulators, as are its partners such as MoonPay, Simplex, and Banxa. MEXC lost its Estonian license last week.
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License Revoked: Urgent Warning Against Crypto Exchange MEXC And Its Possible Collapse!
After the collapse of FTX in November 2022, regulators worldwide cracked down on crypto companies. Scrutiny increased in intensity and led to complaints and warnings from regulators. This also affected the crypto exchange MEXC, which received warnings from regulators worldwide. As exclusively reported by FinTelegram, the Estonian FIU has now revoked the crypto license of MEXC Estonia OÜ. Does this mean the end for MEXC? It is a likely scenario!