07.01.2026 13:51
Allegations have emerged regarding MEXC Global, which has been subjected to access restrictions by the SPK on the grounds of "unauthorized activities," claiming that it lists "junk coins" with no project value using methods similar to "rug pulls," and after rapid declines of up to 99%, delists the tokens, thereby victimizing investors.
MEXC Global exchange, which has hundreds of thousands of users in Turkey but has recently been blacklisted by regulators such as the UK (FCA) and Turkey (SPK), has become a nightmare for investors.
Allegations of fraud regarding the MEXC Global exchange have brought back the "rug pull" risk, one of the methods frequently discussed in the cryptocurrency market but with the most severe consequences for investors. It is claimed that the platform, which has hundreds of thousands of users in Turkey, has been trading some assets in an uncontrolled manner in exchange for "listing fees," leaving investors with worthless coins.
According to the allegations, the system established at MEXC indicates an organized operation that cannot be explained solely by a singular technical failure or market fluctuations. Victim statements and shared documents claim that the exchange has drawn investors into a high-risk cycle by listing low-quality projects referred to as "junk coins" for certain tokens.
RUG PULL TRAP AND "JUNK COIN" WHEEL ALLEGATION
In the cryptocurrency market, the term "rug pull" generally refers to the developers of a project suddenly selling off liquidity after launching the token, causing losses for investors.
According to the allegations, the process works as follows: Some tokens that lack a project, do not offer transparency, or are quickly recognized by the market as carrying a risk of fraud begin to be traded on the platform in exchange for "listing fees." During these listings, it is noted that investors are exposed to high volatility and aggressive price movements.
It is claimed that within a short period, these coins experience sharp declines of up to 99% in seconds, after which the exchange suddenly removes the token from the list on the grounds that it "does not meet project standards." The fact that most of these delisted assets are not traded on other exchanges poses a critical risk for investors. Because the asset becomes unable to find buyers in the market and effectively turns into a "leftover" token, or a "junk coin."
As a news center, we will continue to follow the process and the legal struggles of the victims.
Note: This news text has been prepared based on documents provided by users, publicly available complaint records, and SPK bulletins; it is presented as an allegation.