Trading Education Platform SystemSubscribe for Free
Exchanges / Wider check / MEXC
WIDER CHECK · NO SCORE · 9 OCT 2026

MEXC: what the sources say

No MiCA authorization found Limited search: no Rigor score

Key facts

Regulation, reserves, fees

MiCANot foundNone found in the ESMA interim register
Italian residentsNot verifiedRegistry check pending
Proof of reservesPublishedHacken · 2026-06-15
Spot fees (base tier)0.0% / 0.05%maker / taker

Reserves note: Press release: monthly audits by Hacken; June 2026 average reserve ratio 156.5% for BTC 269%, ETH 118%, USDT 114%, USDC 125%, with user holdings listed as liabilities. Covers four major assets only; release is MEXC-issued.

Track record

Incidents and regulator actions found

Security incidents

  • 2025-07 to 2025-10-31 Reported by Decrypt: MEXC suspended the account of a trader (The White Whale) holding about $3 million in July 2025, alleging two same-second orders breached its terms; the trader disputed this. The same report says other users alleged indefinite freezes and withdrawal problems. Outcome: On 2025-10-31 MEXC apologised and released the funds; it said it was building a fast-track channel to resolve unresolved account issues (per Decrypt). source

Regulator and court actions

  • 2026-05-26 Financial Services Authority, Seychelles: FSA identified MX Global Ltd as operator of mexc.com without the VASP licence required under the VASP Act 2024; entity never held or applied for a licence. Outcome: FSA stated it is initiating enforcement measures and referring the matter to the competent authority; it cannot help recover funds. Official or regulator database source
  • 2024-07-24 FSMA (Belgium): Order requiring Mexc Global LTD to transfer Belgian clients' wallets to an EEA-authorised custodian and cease distribution to Belgian retail clients of products whose returns depend on virtual money. Outcome: Order published; compliance not verified. Official or regulator database source
  • 2023-10-19 BaFin (Germany): Warning against MEXC for offering crypto custody services without required approval (secondary report). Outcome: Warning. PRESS OR OTHER SOURCE · official text not found source
  • 2024-03-15 Hong Kong SFC: MEXC added to SFC list of suspicious virtual asset trading platforms for targeting Hong Kong investors without a licence (secondary report). Outcome: Public warning. PRESS OR OTHER SOURCE · official text not found source
  • 2026-06-22 Virtual Assets Regulatory Authority (VARA), Dubai: VARA notice states MX Global LTD (MEXC) provided virtual asset broker-dealer and/or exchange services in Dubai without a VARA licence from 2022 to April 2026 and onboarded users without meeting KYC obligations. Outcome: VARA imposed enforcement measures and financial penalties (amount not stated on the notice page) and ordered cessation of unlicensed activities in or from Dubai. Official or regulator database source
  • 2025-08-06 Philippines SEC: Reported by Decrypt: the Philippine SEC issued an advisory naming MEXC among ten offshore exchanges operating without registration; ISPs began blocking access. Outcome: Access blocking reported; list described as not exhaustive. PRESS OR OTHER SOURCE · official text not found source
Limits

What we could not verify

Not verified: Italy acceptance and OAM; whether MEXC currently serves EEA residents (reports conflict); hacks/incidents (none verified); BaFin and SFC items are secondary reports; AFM 2025-09-16 action only via third-party; PoR limited to four assets; exact current terms (agreement read is 2023 version). Incident/legal search 2026-10-09 via web search (limited number of queries); absence of entries is not proof of absence.

Facts are as of 9 Oct 2026. We ran a limited number of searches per exchange, so an empty list is not proof that nothing happened. We did not check the Italian OAM register. Items from press or third parties are reports, not findings by an authority. If something here is wrong or out of date, send a correction with a source: corrections policy. Education only, not investment advice.

Sources

  1. [1] ESMA interim MiCA CASP register (CSV) - no MEXC entry accessed 2026-10-09
  2. [2] FSA Seychelles press release: enforcement action against MX Global Ltd (2026-05-26) accessed 2026-10-09
  3. [3] MEXC User Agreement accessed 2026-10-09
  4. [4] FSMA Belgium: Mexc Global Ltd order (2024-07-24) accessed 2026-10-09
  5. [5] Benzinga: MEXC faces scrutiny for unapproved crypto services in Germany (2023-10-19) accessed 2026-10-09
  6. [6] CryptoSlate: Hong Kong SFC adds MEXC to suspicious platforms list (2024-03-15) accessed 2026-10-09
  7. [7] MEXC June 2026 Proof of Reserves release (AAP/PRNewswire, 2026-06-15) accessed 2026-10-09
  8. [8] MEXC: Fees Explained accessed 2026-10-09
  9. [9] Finance Magnates: MEXC to offboard Dutch users (2026-08-25) accessed 2026-10-09
  10. [10] EU Personal Finance: Is MEXC available in Europe (2026-10-08, third-party) accessed 2026-10-09
  11. [11] Decrypt: MEXC exec promises changes after frozen-funds case (2025-10-31) accessed 2026-10-09
  12. [12] VARA notice of fines: MX Global LTD (MEXC), 2026-06-22 accessed 2026-10-09
  13. [13] Decrypt: Philippine SEC cuts access to offshore exchanges (2025-08-06) accessed 2026-10-09