I Face $6,300 Loss on MEXC Due to Unfair COAI_USDT Liquidation
On October 13, 2025, I experienced a major issue while trading COAI_USDT and B2_USDT futures on MEXC. My COAI_USDT position was liquidated at 23.3099 USDT based on the platform’s Fair Price calculation. However, at the same time, the price of COAI on major exchanges such as Bitget, Gate.io, Bybit, and BingX was between 16–19 USDT — it never reached anywhere near 23–35 USDT levels. The same type of issue also affected my B2_USDT position. This price spike occurred only on MEXC, not on any other exchange.
After the incident, I contacted MEXC Support. In their first two replies, they claimed the liquidation was normal, and later offered me a 10% bonus as compensation. However, my total loss amounted to 6,300 USDT, and this small bonus does not remotely cover my damages. I am requesting a full reimbursement of my losses.
Following my own investigation, I identified the following inconsistencies:
1. Hedge Position Closed Using “Last Price”
My hedge position, opened to offset risk, was closed based on the Last Price. This means the system closed my profitable position using the last traded price rather than the fair price.
2. Liquidation Executed Using “Fair Price”
In contrast, my losing COAI_USDT position was liquidated using the Fair Price mechanism. Thus, two simultaneous positions were treated differently:
Hedge → Closed using Last Price
COAI → Liquidated using Fair Price
This inconsistency rendered the hedge mechanism ineffective and directly caused my liquidation.
3. Persistent Price Discrepancy
Even after the liquidation, the Fair Price remained significantly above the Last Price for a period of time. While my hedge was closed using the lower Last Price, the Fair Price stayed artificially high, triggering liquidation on the other side. This strongly suggests a pricing system flaw or possible manipulation.
My margin wallet had sufficient collateral, and no inconsistencies occurred in my balance or payments. Given that this problem only happened on MEXC, it raises serious concerns about the accuracy and fairness of the platform’s price calculation.
I am therefore demanding a full refund of my 6,300 USDT loss and an immediate review of the liquidation process to ensure transparency and prevent similar unfair treatment for other traders.
