I recently opened an account on MEXC and saw a promotion for new users to stake Rabi Coin with an advertised 300% APR. Since the event required holding $1,000 for 3 days, I thought I’d take advantage and let my funds sit there. But in just three days, Rabi Coin dropped from $0.011 to $0.0035, and my initial $960 investment plummeted to around $320.
Yes, I understand price fluctuations are part of the risk. But what I don’t understand is why MEXC would promote such a volatile and clearly failing token as part of a main page campaign for new users. After checking the charts, I saw a consistent downward trend, but it was too late. I tried to unstake immediately, but the system wouldn’t allow me to exit. To make matters worse, the bonus rewards were misleading too. The event said I’d receive $100 for holding $1,000 for 3 days—but I only got $20.