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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- May 31, 2025 09:25 UTC
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Crypto Trading Fraud Soars in India and Beyond: MEXC Rings Alarm Bells
Story Highlights
- Fraud cases on MEXC surged 200% in Q1 2025, with over 80,000 incidents—mainly from India, Indonesia, and the CIS region.
- Scammers used fake trades and bots, exploiting low fees and new token listings; MEXC is boosting fraud detection and user education.
A recent report from the crypto exchange MEXC has revealed a worrying trend in fraudulent trading. The report, focusing on the first three months of 2025, says scams and market manipulation have gone up by 200% compared to the previous quarter. Most of these cases were found in India, Indonesia, and the CIS region.
Fraud Attempts Skyrocket
MEXC discovered over 80,000 cases of fraud in the first quarter alone. These scams included coordinated efforts by groups using fake trades and automated bots. In total, the exchange says it found over 3,000 fraud groups.
Two main factors seem to have caused this jump. First, MEXC listed new tokens from smaller markets, which attracted both new users and scammers. Second, MEXC’s low trading fees brought in more people, including those looking to take advantage of weak oversight.
India and Indonesia Lead the Pack
India saw the highest number of suspicious accounts, with nearly 27,000 flagged. Indonesia had about 5,600 suspicious accounts, and the CIS region reported over 6,400.
Indonesia’s numbers are especially worrying, with a 1,300% jump compared to late 2024. Experts say the excitement around crypto in these areas often grows faster than people’s knowledge about safe trading.
A February report from India’s National Centre for Financial Education found that only 27% of Indian adults know the basics of managing money. Among younger people, the number drops to just 19%. This lack of knowledge gives scammers an easy way in.
False Promises from Fake Influencers
Many people in these countries learn about crypto through social media, like Telegram or YouTube. Unfortunately, not everyone giving advice is honest. Some pretend to be trusted influencers, sharing fake tips and secret investment schemes. They promise fast gains, but many of these are scams meant to trick people.
MEXC Steps Up Protection Response. MEXC is strengthening its systems. They’re using real-time fraud detection and reviewing suspicious accounts. MEXC also plans to teach users how to avoid scams and protect their money.
Tracy Jin, COO of MEXC, said, “2025 has shown a new kind of scam. We’re focused on stopping these tricks and helping our users trade safely.”
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FAQs
Common scams include phishing, fake ICOs, pump-and-dumps, fake exchanges/wallets, and romance scams.
Look for promises of unrealistic returns, fake team members, inconsistent whitepapers, false endorsements, or pushy sales tactics.
Stop all contact, gather evidence (transaction IDs, communication), contact your bank/exchange, and report it to relevant authorities like the FBI or FTC.
Victims can report to law enforcement (FBI, local police) and regulatory bodies (SEC, CFTC, FTC) for investigation and potential enforcement actions.
Yes 
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