MEXC Thwarts 70K Fraud Attempts in Q2 as Syndicate Attacks Plummet 12%

MEXC just dropped its Q2 security report—and the numbers don’t lie. The exchange blocked a staggering 70,000 fraud attempts, while syndicate attacks took a 12% nosedive. Someone tell Wall Street this is how you actually protect assets.

Fraudsters hit a wall

No fluff here: MEXC’s security ops team turned Q2 into a graveyard for bad actors. The 70K blocked attempts reveal a mix of amateur hour fails and sophisticated plays—all dead on arrival.

Syndicates bleed out

That 12% drop in coordinated attacks? It’s not luck. It’s what happens when an exchange upgrades its defenses faster than hedge funds recycle their ‘macroeconomic risks’ excuses.

The takeaway? While traditional finance still struggles with basic 2FA, crypto exchanges are out here playing 4D chess against fraud. Maybe banks should take notes—if they can put down their vintage Rolodexes long enough.

 AI-powered Risk Control Surveillance Gains Ground

MEXC’s risk control framework leans heavily on advanced AI models capable of detecting anomalies in trading behaviour, login patterns, and outliers across both on-chain and off-chain environments. These surveillance systems analyse a large volume of user activities and automatically block suspicious activities or escalate them for human review. The platform reiterates that this AI-human hybrid approach has been key in reducing the success of fraud execution without negatively affecting legitimate user transactions.  MEXC has now also integrated AI tools for real-time monitoring of market manipulation tactics like wash trading, spoofing, and pump-and-dump schemes. 

Though risk control, surveillance, and fraud detection have improved, MEXC noted that user confusion and misinformation remain a persistent challenge. In some instances, fraud syndicates have launched retaliatory disinformation campaigns after thier accounts were restricted by the risk control systems, targeting user trust by distorting the purpose of the account restrictions. In Response, the platform announced it will roll out a global security education initiative in August.  The campaign will include real-world case studies, simplified explainers on fraud detection models, and guidelines for secure trading.

The gains we’ve made in Q2 are the result of early intervention, regional specialization, and smarter tools. But education remains key — we want users to understand not just what happens when an account is flagged, but why.  Tracy Jin added further. 

MEXC's approach to platform integrity reflects a proactive approach at a time when fraud in the Web 3 industry remains a top concern.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.