MEXC Unfair Liquidation Caused By Abnormal Fair Price Spike On ALU And Boxcat
On August 21, 2023, around 21:00, while trading on the MEXC platform (UID: 31155098), I held short positions on the ALU/USDT and Boxcat/USDT pairs, totaling approximately $3,500. Suddenly, the so-called “fair price” jumped to an absurd level that had no connection whatsoever to the real market price, which caused my positions to be liquidated unfairly, resulting in a serious financial loss.
The fair price mechanism is supposed to prevent manipulation, yet in this case, it seemed to function as the exact opposite—creating conditions that directly harmed investors. The gap between the real price and the fair price was close to 100%, which is completely unacceptable and makes it clear that something was seriously wrong.
This is not the first time I’ve experienced such an issue on MEXC. In the past, I contacted customer support, but I only received generic, unsatisfactory replies with no real solution. MEXC’s refusal to take accountability for these incidents makes me seriously question the platform’s credibility and transparency.
If the fair price mechanism had worked correctly, my positions would not have been liquidated—in fact, I would have made a profit. Instead, I was left with significant losses due to what appears to be a broken or manipulated system.
I demand that MEXC immediately compensate me for my losses and provide a clear, transparent explanation of why the fair price diverged so drastically from the real price. Without proper action, my trust in MEXC will be completely destroyed, and I will have no choice but to reconsider using this platform.
