Is MEXC safe? Licences, account freezes and incidents
Is MEXC safe?
No licence for MEXC was found in an issuing authority's own register. Its terms let it freeze, suspend or close an account, without prior notice. Its terms prohibit gambling as a use of the account. 1 primary-source incident is recorded, dated 2025-09-16.
Documents last checked Reviewed by CryptoGuardz Register Desk, editorial desk
Disclosure: CryptoGuardz has no commercial relationship with MEXC and earns nothing if you open an account there. Every statement below is read from a document MEXC publishes or from a public register, and each carries the date it was read. Corrections go to the corrections page.
MEXC review: the documents
This is a review of the documents MEXC publishes and of the registers that should list it, not a test of the platform: no account was funded and no withdrawal was run. The binding terms name MEXC Trading Platform as the company you contract with, and state no place of incorporation. The record quotes 12 clauses across 7 topics, read 2026-09-22, from 7 sources. No licence for MEXC was found in an issuing authority's own register. MEXC appears on 1 regulator's warning register. A proof of reserves is published and signed by the exchange itself, with no outside accountant named. The terms carry no clause on what happens to customer assets if the company fails. Its terms prohibit gambling as a use of the account. 6 points could not be verified and are listed below.
Is my crypto safe on MEXC?
MEXC is a custodial exchange: coins on the account are held by the exchange, not by a key you control. What protects them is what the binding terms say about holding customer assets and about the company failing. One clause on holding customer assets is quoted below.
MEXC maintains full custody of the assets, funds and User data/information which may be turned over to governmental authorities in the event of MEXC Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of this Agreement.mexc.com
Insolvency or bankruptcy language: Not disclosedThe binding terms read contain no clause on what happens to customer assets if the company becomes insolvent. A reader is left to infer their position as a creditor from a document that does not state it.
Can MEXC freeze my account?
Yes, by its terms. The 3 clauses are quoted as written, followed by the 2 clauses on suspending withdrawals. Grounds named in the text: its own discretion, with no reason required, a security event or platform incident and identity verification not completed.
MEXC shall be entitled in its sole and absolute discretion, without prior notice, to suspend, terminate the provision of part or all of the MEXC services to you for any reason, as well as suspend or permanently freeze (cancel) your account in MEXC, and shall not be liable to you or any third party for so doing, however, MEXC has the right to retain the trade data, history and other information relating to the account, as well as the application and use of such information.mexc.com
Upon the termination of your account services or the permanent freezing (cancellation) of your account on MEXC, MEXC shall have no obligation to retain or disclose to you any information in your account, or to forward to you or a third party any information you have not readmexc.com
(e) Other circumstances in which MEXC believes that the service should be terminated.mexc.com
(b) We constantly set and adjust daily trading and cash withdrawal limits based on security requirements and actual state of trade;(c) We may temporarily restrict trading activity(ies) and freeze any Account pending further investigations, in order to protect Assets of the User and MEXC, and/or to comply with any ongoing judicial/regulatory investigations and/or requests;mexc.com
The User agrees that if the identity verification procedure for his/her/its User account fails to be completed, MEXC has the right to terminate the supply of User account services without prior notice to the User, and MEXC may promptly suspend, close or delete the User account and all relevant materials and files in the User account.mexc.com
Sending funds to a casino is a named trigger in a clause that prohibits gambling:
(i) Gambling activities, including but not limited to, sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoingmexc.co
Has MEXC been hacked or fined?
One matter is recorded, each from the primary source linked beside it. The descriptions are the record’s, with the date. Other events may exist that no primary source in this collection confirms, so this list is not proof that there are no others.
The Netherlands Authority for the Financial Markets determined that MEXC provides crypto-asset services in the Netherlands without the required MiCAR licence, in breach of Article 59 MiCAR, and issued a public warning. The determination is recorded on the European Securities and Markets Authority's official MiCA register of non-compliant entities, where the reason field reads: "MEXC Global provides crypto-asset services in the Netherlands without the required MiCAR license. MEXC is in breach of section 59 MiCAR." The register record was last updated 25 September 2025 and MEXC was still listed in the file published 16 September 2026.
MEXC support and scams
The official domain in the record is mexc.com. Type it yourself rather than following a link from an ad, a search result or a message, and reach support only from inside the account you signed in to there.
Real support never asks for a seed phrase or for remote access to your device. An exchange account is opened with a login, not a recovery phrase, so a request for one is a request for a wallet you hold elsewhere. A request to install a screen-sharing or remote-desktop app hands the caller your signed-in session. Either one ends the conversation.
If money has already gone, the next message offering to get it back is the commonest second loss. The FBI, the FTC, the CFTC and the UK FCA have each published warnings about it, quoted on crypto scam recovery: what is real.
What we could not verify
The gaps in this record, as the record states them. A point listed here was looked for and not confirmed; it is neither a finding for MEXC nor against it.
- The identity of the legal entity that contracts with a retail user. The User Agreement names only "MEXC Trading Platform", which is not a legal person. No company number, jurisdiction of incorporation or registered address appears in the binding document.
- What happens to customer assets if MEXC becomes insolvent. The User Agreement has no insolvency clause, no segregation clause and no statement of whether customer assets are held on trust or pooled. The only custody statement is that MEXC "maintains full custody".
- Whether MEXC holds any licence or registration anywhere. None is claimed in the binding document and none was found in any register searched.
- The AFM's own press page for the MEXC warning, at https://www.afm.nl/en/sector/actueel/2025/sep/pb-mexc, returned a 404 error page at retrieval. The determination is recorded here from the ESMA register file, which is itself the official record and which cites that AFM URL.
- The size and current balance of the advertised $100M Guardian Fund. The balance field rendered as a dash.
- Reserve coverage for any asset other than USDT, USDC, BTC and ETH.