MEXC forced you to do KYC?

[Oshosondy]

I have been using MEXC since few years ago, but I wanted to withdraw small amount of coin on the exchange, I was unable to do that and I was requested to complete primary KYC which will require personal documents like national ID card, intentional passport or driver's license.

Exchanges like Binance, Bybit and some other ones do not force people to verify but leave an option to withdraw all your coins  when they made KYC mandatory, but MEXC did not do like that but forcing customers.

The exchange icon has also changed to Binoculars which can signify something. Anyone from any countries are now requested KYC if they send money to the exchange.

This is just to let people know that they should not send money to MEXC if they do not want compulsory KYC verification.

[TryNinja]

Is there is even an exchange that does not ask for KYC nowadays? I think based on volume I have KYC on every single exchange I use. No exception.

[logfiles]

Not surprised at all. All those big centralized exchanges will enforce KYC verification at one point whether we want it or not. To avoid the inconvenience, if you are using an exchange, and they have an option to verify for KYC, it's better you verify your account before they force you to do so by blocking your funds and holding them hostage

Some of us have to even undergo facial recognition on top of a fully verified account to just have our funds back 

It's an ugly trend, but that is the price to pay for using centralized exchanges.

[hugeblack]

Was there any suspicious activity on your account, such as logging in from a new IP address or other unusual activity that led to your account being closed?

Platforms like MEXC gained popularity by being noKYC-compliant, and their current practices make them more likely to be scammer than viable platforms for future competition.

[Oshosondy]

Is there is even an exchange that does not ask for KYC nowadays? I think based on volume I have KYC on every single exchange I use. No exception.

There are still exchanges that does not require KYC but the problem is that they may not have protection funds, and people may not trust them like the exchanges that have higher trading volume. And another things is that any of the exchanges can grow big or have regulatory pressure to become a KYC exchange.

Was there any suspicious activity on your account, such as logging in from a new IP address or other unusual activity that led to your account being closed?

It was my friend that first called me about it, later it happened to me. All my MEXC accounts are old accounts.

[hugeblack]

Was there any suspicious activity on your account, such as logging in from a new IP address or other unusual activity that led to your account being closed?

It was my friend that first called me about it, later it happened to me. All my MEXC accounts are old accounts.

I searched on Reddit and found this thread ----> MEXC Now requires KYC for withdrawals.

So it doesn't seem to be a problem related to your country or account, but rather a policy of MEXC. Unfortunately, they haven't officially announced it, which makes it seem like they intend to scam as many users as possible.

[Rikafip]

I have been using MEXC since few years ago, but I wanted to withdraw small amount of coin on the exchange, I was unable to do that and I was requested to complete primary KYC which will require personal documents like national ID card, intentional passport or driver's license.

This is the first time you are trying to withdraw from Mexc in the last few months, or it was working normally until now? I am asking because I heard they introduced mandatory KYC starting from February 1st.

Is there is even an exchange that does not ask for KYC nowadays? I think based on volume I have KYC on every single exchange I use. No exception.

Some members of Croatian board are using Blofin, and it doesn't have mandatory KYC as of yet (they have in their T&S that they can ask gor it anytime though). I personally haven't tried it yet so don't jhave first hand experience with it, other than experience of others.

[rdluffy]

So I wasn’t the only one, then 

I logged into MEXC the other day to make a withdrawal and was quite surprised to be forced to complete KYC without any chance to withdraw the money first and then decide whether or not I want to keep my account there
I had to do it, there was no way around it, but I didn’t like that
I think they should have warned users beforehand

I’m from Brazil, and the amounts were small, nothing even close to the limit they allowed without KYC before

[rat03gopoh]

So it doesn't seem to be a problem related to your country or account, but rather a policy of MEXC. Unfortunately, they haven't officially announced it, which makes it seem like they intend to scam as many users as possible.

They have multiple channels on X, and only @mexc_cst publishes policy-related news. They also started encouraging users to complete KYC on April 13th.
There was an official article published on April 3rd^(*), highlighting the latest KYC policy in points 6 to 8, which appears to apply to all users.


*) https://www.mexc.com/learn/article/does-mexc-require-kyc-complete-guide-to-mexc-kyc-verification/1

[BitMaxz]

Most well-known exchanges require KYC; if you can trade there without KYC, it's no surprise that this exchange will end up forcing KYC to scam people.
This is a well-known trick used by well-known scam exchanges, and the strange part is that their headquarters are in Singapore, but if I recall correctly, it is legal in India. Correct me if I'm wrong, but that is what I heard before. Remember, the highest volume of the scammers are in India.

I'm not sure yet since Google results give me two locations. The primary address is in the Seychelles, and the operation hub is in Singapore.

I dig more research and found this, but I do not know if this is connected.
Source:
- https://www.instafinancials.com/company/mexc-india-private-limited-U62013UP2023PTC184587
- https://tracxn.com/d/legal-entities/india/mexc-india-private-limited/__qNI7inmz54Hh4OCEE9jtpbMYyFHfA-6VOf7oL5uTk9E

I just got the idea somewhere on the trading forum or in Telegram that this exchange is run by Indian people; however, the operation addresses are different.

I was going to use this exchange before, honestly. I was initially attracted to their $10000 USDT promotion, but after watching a trader on MEXC (who I know), he stated that his account had been hacked, but it seems to have been an inside job because the support is not cooperating.

[Bitcoin Smith]

This is a well-known trick used by well-known scam exchanges, and the strange part is that their headquarters are in Singapore, but if I recall correctly, it is legal in India. Correct me if I'm wrong, but that is what I heard before. Remember, the highest volume of the scammers are in India.
~

MEXC is not a FIU-registered exchange, so it is banned in India, and they also recently announced that "Temporary Suspension of Services for Existing Users in India". But still some exchanges bypass the geoblock using mirror links that definitely shows what their intentions are. But when I tried opening using MEXC, the domain is blocked by my ISP, which again proves my point it is not legal in India.

The highest number of scammers are from India, there are certain parts where these crimes are happening but it is lot more controlled now compared to the last few years.

[dkbit98]

Didn't MEXC exchange had Tier 0 for unverified accounts with some limitations?
It's nothing strange if they changed this like many other centralized exchanges, they can always ask you to complete random verification.
Luckily we have good alternative exchanges that don't ask any verification, or real decentralized exchanges like Bisq.

[zasad@]

I use this exchange occasionally and am very happy with it. They don't even have a KYC module. But that doesn't mean you can send "dirty" coins to this exchange.
https://nonkyc.io/
This exchange is perfect for exchanging small or large amounts in multiple transactions.
Check your own research before using it.

[eaLiTy]

~
So it doesn't seem to be a problem related to your country or account, but rather a policy of MEXC. Unfortunately, they haven't officially announced it, which makes it seem like they intend to scam as many users as possible.

MEXC was notifying me regarding the changes, they informed unverified accounts will be limited to futures position closing and withdrawals, not sure why OP was forced to undergo KYC for withdrawal, first mail reached me on 13th March and they were notifying me every week to undergo the KYC and they sent a total of 5 mail notification and the final one on 26 March, so i believe they were doing the same with every user registered with them.

I logged into MEXC the other day to make a withdrawal and was quite surprised to be forced to complete KYC without any chance to withdraw the money first and then decide whether or not I want to keep my account there

So it is a common theme of enforcing KYC for withdrawals for everyone even when their notification says otherwise is misleading from MEXC's side.

[avp2306]

Been so long didn't use that exchange and somehow its expected to see those changes, since government tried to regulate lots of crypto related platforms.

I find this article dated December https://blockscopex.com/news/mexc-kyc-dac8-requirements-2026 so it seems that they are already preparing for that situation to happen. That situation make those exchange became dangerous to use.

Good thing there are no KYC crypto swaps platform still available and we can able to swap our coins without sending any documents to those exchange.

[PrivacyG]

Binance did the right thing asking for Know Your Customer only for customers who wanted to continue using their service.  Platforms that ask for Know Your Customer for withdrawals are SCAMMING their customers.  If there was no ID scan required when you deposited, it makes no sense to ask for it when withdrawing.  It sounds like they are looking to seize as in scam customers out, legally.

[The Cryptovator]

This is expected. If you use any centralised exchange, then definitely you have to encounter KYC verification anytime. It's more painful than KYC exchange. Because KYC exchanges like Binance give you prior notice about verifying your identity, but asking for KYC suddenly is kind of the worst situation. I am not using MEXC; I probably have an account there but have not been using it.

However, this would be a message for everyone not to trust any centralised exchange that is not asking for KYC initially. If we don't want to use KYC, then we have to instant exchange those that aren't asking for KYC; it's better than a centralised exchange, though it's hard to trust them with a big amount.

[Zwei]

Platforms that ask for Know Your Customer for withdrawals are SCAMMING their customers.  If there was no ID scan required when you deposited, it makes no sense to ask for it when withdrawing.  It sounds like they are looking to seize as in scam customers out, legally.

that's what i think too, not to mention a lot of MEXC users are ones who left other exchanges after they started enforcing KYC, so a lot of them probably can't do KYC or will fail KYC for whatever reason, so they just gonna loot their coins. scummy shit.

if anyone wants to use a CEX, they should just pick a goodish one and do the KYC to have some peace of mind, else they should just stick to a real no KYC or decentralized exchanges.
never trust a CEX no matter what, cause sooner or later, they will pull something like this on you.

[NeuroticFish]

Platforms that ask for Know Your Customer for withdrawals are SCAMMING their customers.  If there was no ID scan required when you deposited, it makes no sense to ask for it when withdrawing.  It sounds like they are looking to seize as in scam customers out, legally.

Exactly. It sounds like something similar to selective scam, pretending that they're covered by the law. Of course, if they do KYC only at withdrawal, that's plain stealing and no law would cover that.

[joniboini]

There was an official article published on April 3rd^(*), highlighting the latest KYC policy in points 6 to 8, which appears to apply to all users.

So if I get this right, you basically have to do KYC now since withdrawal is locked behind it. Sounds contradictory to their email notification. I'm fairly certain if they allow withdrawal for everyone who refuses KYC it won't affect their image that much, doing the opposite will just make their reputation tank. Not sure what's the math for this. Is "scamming" customers really that worth it? Wouldn't they jut move away from their platform after they finished their KYC if that's how MEXC treats them?