Minh Vo

Here’s My Theories - And How You Can Help Investigate I’ve spent months investigating MEXC. I’ve sifted through countless data sets, read hundreds of user stories, and overturned every stone possible within the limits of their opacity. We all understand that liquidations tend to be a profit driver for exchanges - CEXs and DEXs alike - since liquidation fees often go straight to the house. But what’s harder to explain is why they’re so hypersensitive to traders who win. Across hundreds of cases I’ve reviewed, one common factor kept surfacing: profitability. The majority of these stories were posted long before I ever went public, so we can rule out the idea of “copying for clout” We all know that statistically, most leveraged traders lose. It’s a brutal game - one that rewards only the sharpest few. Now consider a Web2 company whose biggest marketing hook is “zero fees” That’s a strong retail lure. But here’s the problem: market makers don’t work for free. They get rebates. So how can a platform pay MMs without collecting any trading fees from users? Yes, MEXC has a published market-making program, and it’s entirely possible some legitimate market makers are participating. But what if they’re also acting as market makers themselves - directly trading against their users? That’s not speculation pulled from thin air. Internal market-making desks have existed in this industry before, and it’s never ended well. It would explain MEXC’s extreme sensitivity to winning traders: because each profitable user represents a direct loss to them. They’re not just facilitating your trade - they’re your counterparty, expecting you to lose. Honest platforms celebrate profitable traders. Profitable people post those PnL screenshots everywhere and it’s free marketing. But if your profits threaten the house itself, suddenly “risk control” takes on a whole new meaning. So what gives them such unshakable confidence that you’ll lose - beyond industry averages? It’s my belief that MEXC has engineered their system to tilt the odds against you from the start. I come from the Web2 world. In e-commerce, every page element is designed for one thing: conversion rate optimization. You tweak buttons, color schemes, and headlines to guide the user’s behavior toward your desired outcome. Now imagine that same psychological engineering applied to trading - only this time, the “desired outcome” is your liquidation not just simple online shopping. Here’s what I’ve started to notice: their mobile push notifications seem engineered to bait emotional entries at statistically poor moments. For example: Solana pumps for two hours. You’d expect a bullish notification at the start, right? Wrong. They wait until price starts retracing - and then send “Solana surges - trade now!” The perfect trap for FOMO-chasing retail. Each notification ends with the same call to action: “Trade Now!” This is not an informational push notification about price action like I get from so many other apps - they are telling you what they want you to do right there in plain text. I’m calling on the good people of X to help investigate. Track where price is at the time of each push notification, note the exact language used, and then follow what happens over the next 15, 30, 60, and 120 minutes. If this data confirms what early tracking already suggests, it will prove that MEXC’s marketing isn’t just bad taste - it’s behavioral manipulation optimized for liquidation. Which brings us full circle: If they’re manipulating notifications to increase liquidations, and also acting as your counterparty on those trades, that’s not a platform. That’s a casino disguised as an exchange - one that rigs both the game and the psychology of the player. 🫡 From the depths — The White Whale 🐋