Is MEXC safe to connect?
Exchange ยท Multi-asset centralized exchange (spot, futures, margin). Checked 2026-10-25; every line links its source.
Worst case: MEXC holds your coins and its risk-control system can lock withdrawals pending document checks with no fixed end date (it has described 12-month reviews), and a leaked API key without IP binding works from anywhere until it expires.
Safe setup in 3 steps
- Bind every API key to your server's IP and, if you must share a key with a tool, restrict it to the trading pairs it needs
- Before contacting 'MEXC support' or following an MEXC X/Telegram account, check it in MEXC Verify on mexc.com; @MEXC_Official no longer exists on X
- Complete KYC before depositing large sums and keep records showing where your deposits came from, since MEXC asks for these during reviews
What it can do with your money
| Who holds the keys | The exchange holds your funds Custodial exchange account. source |
|---|---|
| Can funds be sent out to any address? | Yes. Withdrawals are available but can be blocked while an account is under risk review; withdrawals may require KYC facial verification. source |
| Can it hold or freeze your funds? | MEXC's Account Risk Review Guide (dated 2026-09-21): its risk-control system may restrict features or make services 'temporarily unavailable' until verification is complete; restrictions cannot be lifted manually or early. It may request source-of-funds records (wallet ownership, tx hashes, exchange records), income/employment proof (e.g. three months of bank statements) and proof of address. Document review typically takes ~3 business days; a further risk-control analysis has an estimated duration shown in-app that is 'for reference only'. In 2025 MEXC told Cointelegraph that a 12-month review period applies to accounts it classes as coordinated violations, high-risk or compliance-risk. On 2025-11-01 MEXC said some earlier rules had been 'overly rigid' and set up an expedited unfreeze-review team. source |
| What a leaked API key can do | Binding IP addresses to a key is optional but strongly encouraged; keys not bound to an IP are valid for 90 days and can be renewed for 90 days within 5 days of expiry. Trading keys can be restricted to specific pairs. Futures order permission requires KYC. Whether a Withdraw permission exists and its default was not confirmed in MEXC's docs. source |
| Monero and Zcash | XMR: XMR/USDT spot market listed on mexc.com; third-party survey also lists XMR/USDC. Deposit/withdrawal status not confirmed source source ZEC: ZEC/USDT and ZEC/USDC spot markets listed; MEXC also announced ZEC on BNB Smart Chain source source source |
Official links
- Website:
mexc.com - X:
@MEXC
Where we confirmed these
Incidents
| Date | What happened | Amount | Outcome | Source |
|---|---|---|---|---|
| 2025-07-01 | MEXC froze ~$3M of a trader ('White Whale') under a 12-month risk review; after a public campaign MEXC's CSO apologised and released the funds on 2025-10-31 (freeze date approximate: 'July') | ~$3M | released after ~4 months | source |
| 2024-03-15 | Hong Kong SFC warned that MEXC operates in Hong Kong without a licence (article date; warning issued on or shortly before) | regulatory warning | source |