— Contents 10 sections
  1. 01 Is the MEXC referral code “1GNtz” still active?
  2. 02 What the MEXC referral code “1GNtz” gets you
  3. 03 MEXC sign-up steps with the referral code
  4. 04 What to do after signing up at MEXC
  5. 05 The MEXC referral code cannot be added after sign-up
  6. 06 What is MEXC
  7. 07 What makes MEXC distinct
  8. 08 MEXC regulatory landscape
  9. 09 MEXC availability across major jurisdictions
  10. 10 Risks to acknowledge before using MEXC

chainhelm’s exclusive MEXC referral code is .

As of 2026-07-10, we signed up as a new user and confirmed that the referral code was applied.

Enter the code at sign-up to receive new-user bonuses worth up to 10,020 USD. The referral code can only be entered at sign-up — it cannot be added afterwards, so we recommend applying it during registration.

This article covers the sign-up process with the MEXC referral code, MEXC’s distinguishing features, availability across major jurisdictions, and the risks to acknowledge — with the sign-up flow and code application verified first-hand by chainhelm’s editorial team.

Is the MEXC referral code “1GNtz” still active?

The chainhelm editorial team created a fresh MEXC account on 2026-07-10 and confirmed that the referral code “1GNtz” is still active.

Here is the actual screen captured during verification.

— Figure 1
The MEXC referral form
2026-07-10
The MEXC referral form
The sign-up form with an empty email field and the referral code 1GNtz already filled in. Source: chainhelm editorial

The screen shows “Your Friend Invites You to Join MEXC”, confirming that the referral code 1GNtz was correctly applied.

chainhelm continuously verifies the validity of the code and confirms it remains usable.

What the MEXC referral code “1GNtz” gets you

Apply this code at sign-up to receive the following benefits on MEXC:

  • Benefit: new-user bonuses worth up to 10,020 USD
  • Expiration: None
  • Eligibility: New users

The referral code is only applied during account creation. If you forget to enter it, you won’t receive the benefits — please make sure to apply it at sign-up.

MEXC sign-up steps with the referral code

We cover the sign-up process separately for PC/browser and smartphone (mobile).

PC/browser sign-up steps

  1. First, open the MEXC official sign-up page (the link applies the referral code). When you open it, you’ll see a screen like the one below.

  2. Open the referral sign-up form

    The MEXC referral form
    2026-07-10
    The MEXC referral form
    The sign-up form with an empty email field and the referral code 1GNtz already filled in. Source: chainhelm editorial

    Open the referral link to land on the “Your Friend Invites You to Join MEXC” sign-up form, then type your email address or phone number into the empty “Email/Phone Number” field. The “Referral Code (Optional)” field already carries the invite code 1GNtz, so you can leave it as it is.

    Before moving on, make sure the “I have read and agree to the User Agreement and Privacy Policy” box stays ticked; the panel beside the form lays out the referral rewards that go with signing up this way.

    If you would rather not use an email address or phone number, the form also lets you sign up with a Google, Apple, MetaMask, or Telegram account instead.

  3. Submit the sign-up form

    Sign-up form filled in
    2026-07-10
    Sign-up form filled in
    The email address entered in the field, with the "Sign Up" button ready to submit. Source: chainhelm editorial

    With your email address filled in and the referral code still in place, click the “Sign Up” button to submit the form. MEXC then brings up a slider puzzle to confirm you are a real person before moving on to email verification.

  4. Pass the slider check

    Slider puzzle check
    2026-07-10
    Slider puzzle check
    The slider captcha window that asks you to drag the handle to complete the puzzle. Source: chainhelm editorial

    Drag the handle along the bar at the bottom of the “Slide to complete the puzzle” window until the puzzle piece locks into place. Once the check passes, MEXC sends a code to your email and opens the code-entry screen.

  5. Enter the email code

    Email code entry
    2026-07-10
    Email code entry
    The verification screen with six empty code boxes and a note that the code stays valid for 15 minutes. Source: chainhelm editorial

    On the “You’re Almost There” screen, click “Get Code” to have the six-digit code sent to the email address shown, then type each digit into the six boxes. The code only stays valid for 15 minutes, so enter it promptly.

    Click “Continue” to confirm the code and move on to setting your password. If nothing arrives, use “Didn’t receive the code?” to request it again.

  6. Get the code from your inbox

    Verification email
    2026-07-10
    Verification email
    The MEXC sign-up email showing the six-digit verification code and its 15-minute validity. Source: chainhelm editorial

    Switch to your email inbox and open the message titled “[MEXC] Account Sign-Up Verification Code”. The six-digit code sits in large blue text inside the email, so copy it and paste it back into the boxes on the sign-up screen. Keep in mind that the code works for only 15 minutes.

  7. Set your account password

    Set password screen
    2026-07-10
    Set password screen
    The empty password field above a checklist of the rules the password has to meet. Source: chainhelm editorial

    On the “Set Password” screen, type a password into the empty “Password” field. The checklist just below spells out the rules it has to meet: 10 to 128 characters, plus at least one uppercase letter, one lowercase letter, and one number. Click the eye icon if you want to check what you have typed.

  8. Confirm the password

    Password rules met
    2026-07-10
    Password rules met
    The password entered with every rule in the checklist marked as satisfied. Source: chainhelm editorial

    Once every rule in the checklist turns blue to show your password is accepted, click the “Confirm” button. MEXC creates your account and brings up a window asking you to complete KYC verification.

  9. Start KYC verification

    KYC prompt window
    2026-07-10
    KYC prompt window
    The pop-up asking you to complete KYC verification, with a "Verify Now" button. Source: chainhelm editorial

    After your account is created, a “Please Complete KYC Verification” window opens over the form. Click “Verify Now” to open the identification page and begin confirming your identity. You can also close the window with the X and return to KYC later.

Smartphone (iOS / Android) sign-up steps

  1. First, open the MEXC official sign-up page in the mobile app or browser (the link applies the referral code). When you open it, you’ll see a screen like the one below.

  2. Open the referral sign-up form

    The MEXC referral form
    2026-07-10
    The MEXC referral form
    The sign-up form with an empty email field and the referral code 1GNtz already filled in. Source: chainhelm editorial

    Open the referral link to land on the “Your Friend Invites You to Join MEXC” sign-up form, then type your email address or phone number into the empty “Email/Phone Number” field. The “Referral Code (Optional)” field already carries the invite code 1GNtz, so you can leave it as it is.

    Before moving on, make sure the “I have read and agree to the User Agreement and Privacy Policy” box stays ticked; the panel beside the form lays out the referral rewards that go with signing up this way.

    If you would rather not use an email address or phone number, the form also lets you sign up with a Google, Apple, MetaMask, or Telegram account instead.

  3. Submit the sign-up form

    Sign-up form filled in
    2026-07-10
    Sign-up form filled in
    The email address entered in the field, with the "Sign Up" button ready to submit. Source: chainhelm editorial

    With your email address filled in and the referral code still in place, click the “Sign Up” button to submit the form. MEXC then brings up a slider puzzle to confirm you are a real person before moving on to email verification.

  4. Pass the slider check

    Slider puzzle check
    2026-07-10
    Slider puzzle check
    The slider captcha window that asks you to drag the handle to complete the puzzle. Source: chainhelm editorial

    Drag the handle along the bar at the bottom of the “Slide to complete the puzzle” window until the puzzle piece locks into place. Once the check passes, MEXC sends a code to your email and opens the code-entry screen.

  5. Enter the email code

    Email code entry
    2026-07-10
    Email code entry
    The verification screen with six empty code boxes and a note that the code stays valid for 15 minutes. Source: chainhelm editorial

    On the “You’re Almost There” screen, click “Get Code” to have the six-digit code sent to the email address shown, then type each digit into the six boxes. The code only stays valid for 15 minutes, so enter it promptly.

    Click “Continue” to confirm the code and move on to setting your password. If nothing arrives, use “Didn’t receive the code?” to request it again.

  6. Get the code from your inbox

    Verification email
    2026-07-10
    Verification email
    The MEXC sign-up email showing the six-digit verification code and its 15-minute validity. Source: chainhelm editorial

    Switch to your email inbox and open the message titled “[MEXC] Account Sign-Up Verification Code”. The six-digit code sits in large blue text inside the email, so copy it and paste it back into the boxes on the sign-up screen. Keep in mind that the code works for only 15 minutes.

  7. Set your account password

    Set password screen
    2026-07-10
    Set password screen
    The empty password field above a checklist of the rules the password has to meet. Source: chainhelm editorial

    On the “Set Password” screen, type a password into the empty “Password” field. The checklist just below spells out the rules it has to meet: 10 to 128 characters, plus at least one uppercase letter, one lowercase letter, and one number. Click the eye icon if you want to check what you have typed.

  8. Confirm the password

    Password rules met
    2026-07-10
    Password rules met
    The password entered with every rule in the checklist marked as satisfied. Source: chainhelm editorial

    Once every rule in the checklist turns blue to show your password is accepted, click the “Confirm” button. MEXC creates your account and brings up a window asking you to complete KYC verification.

  9. Start KYC verification

    KYC prompt window
    2026-07-10
    KYC prompt window
    The pop-up asking you to complete KYC verification, with a "Verify Now" button. Source: chainhelm editorial

    After your account is created, a “Please Complete KYC Verification” window opens over the form. Click “Verify Now” to open the identification page and begin confirming your identity. You can also close the window with the X and return to KYC later.

What to do after signing up at MEXC

We cover identity verification separately for PC/browser and smartphone (mobile).

PC/browser identity verification

The “Identification” page offers two levels: “Primary KYC”, which only needs your ID, and “Advanced KYC”, which also adds facial recognition. The “Account Benefits” table underneath compares the limits each level unlocks, such as the higher withdrawal and fiat-trading caps on the advanced tier.

To carry on in your browser, click “Verify via Web” under “Primary KYC”, which opens the country and ID-type selection. Each card also offers “Verify via App” if you would rather finish in the mobile app.

KYC level options
2026-07-10
KYC level options
The identification page with the Primary and Advanced KYC options and a benefits comparison. Source: chainhelm editorial

On the “Select Country and ID Type” screen, open the “Country/Region” dropdown and pick the country that issued your document. Then choose one of the four ID types — “ID card”, “Passport”, “Driving license”, or “Residence Permit” — and click “Next”. The screen also notes an “Estimated Review Time: 2 hours” for the check.

Country and ID type
2026-07-10
Country and ID type
The KYC screen with a country dropdown and four ID-type options above the "Next" button. Source: chainhelm editorial

Read the “ID Photo Requirements” first: the document has to be a valid, government-issued original that is clear and legible, saved as a JPG, JPEG, or PNG under 5 MB. The sample photos alongside — one marked “Good” against “Cropped”, “Blurred”, and “Reflection” — show at a glance what passes and what to avoid.

Upload the front and back of your document into the two slots, starting with “Take a photo of the front of your ID” and its matching back slot, then click “Submit for Review”.

ID photo upload
2026-07-10
ID photo upload
The upload screen with the photo requirements, sample images, and front and back upload slots. Source: chainhelm editorial

Smartphone (iOS / Android) identity verification

The “Identification” page offers two levels: “Primary KYC”, which only needs your ID, and “Advanced KYC”, which also adds facial recognition. The “Account Benefits” table underneath compares the limits each level unlocks, such as the higher withdrawal and fiat-trading caps on the advanced tier.

To carry on in your browser, click “Verify via Web” under “Primary KYC”, which opens the country and ID-type selection. Each card also offers “Verify via App” if you would rather finish in the mobile app.

KYC level options
2026-07-10
KYC level options
The identification page with the Primary and Advanced KYC options and a benefits comparison. Source: chainhelm editorial

On the “Select Country and ID Type” screen, open the “Country/Region” dropdown and pick the country that issued your document. Then choose one of the four ID types — “ID card”, “Passport”, “Driving license”, or “Residence Permit” — and click “Next”. The screen also notes an “Estimated Review Time: 2 hours” for the check.

Country and ID type
2026-07-10
Country and ID type
The KYC screen with a country dropdown and four ID-type options above the "Next" button. Source: chainhelm editorial

Read the “ID Photo Requirements” first: the document has to be a valid, government-issued original that is clear and legible, saved as a JPG, JPEG, or PNG under 5 MB. The sample photos alongside — one marked “Good” against “Cropped”, “Blurred”, and “Reflection” — show at a glance what passes and what to avoid.

Upload the front and back of your document into the two slots, starting with “Take a photo of the front of your ID” and its matching back slot, then click “Submit for Review”.

ID photo upload
2026-07-10
ID photo upload
The upload screen with the photo requirements, sample images, and front and back upload slots. Source: chainhelm editorial

That wraps up the sign-up and KYC submission — MEXC now reviews your documents, which the country-selection screen estimated at around two hours.

The MEXC referral code cannot be added after sign-up

The referral code can only be entered at sign-up — it cannot be added afterwards.

If you complete account registration without entering the referral code, it cannot be linked to that account afterwards — so double-check the field before you finish sign-up.

If you have not yet completed KYC (identity verification), creating a fresh account is still an option.

  • Is 1GNtz displayed in the referral code field?
  • Re-check the referral code field before completing account creation

◆ ◇ ◆

What is MEXC

MEXC’s scale, origins, and product reach

MEXC launched in 2018 and runs from an offshore base in Victoria, Seychelles, under the operating entity MX Global Ltd (Seychelles IBC No. 238047). Unlike many of the exchanges it competes with, it discloses no single consolidated global operating company — a structural detail that matters later, when the question turns to recourse.

40M+Registered usersself-reported
170+Countries reachedself-reported
#8 / #9Spot exchange rankCoinGecko / CoinMarketCap
#6Derivatives rank≈USD 10.18B 24h volume
1,766–3,000+Listed spot coinsCoinGecko vs self-reported
up to 500xUSDT-M futures leverageadvertised

Those headline figures deserve one caveat: spot 24-hour volume lands somewhere around USD 0.82B to 1.0B depending on the tracker, because methodologies and wash-trade filters differ from one data provider to the next. What is not in dispute is the breadth — thousands of listed coins alongside deep USDT-M perpetual markets. On the corporate side, Vugar Usi Zade became CEO on 2026-04-08, the deflationary MX Token 2.0 model arrived in 2025, and RealStocks launched on 2026-06-03: a trajectory of product expansion rather than retreat. For a prospective user, the practical read is that MEXC is a large, fast-moving venue — with the depth to match, and the offshore posture to weigh.

Trading costs and the MX-token fee discount

The number on a fee schedule is only part of the real cost of trading; funding and withdrawal costs sit alongside it. On the trading side, MEXC’s schedule is unusually flat, and it leans on that as a headline selling point.

Spot

0% maker

Taker runs up to 0.05%, with many pairs on 0-fee promotions and BTC/ETH taker reduced to roughly 0.024%–0.03%. MEXC markets its spot book as “0-fee”.
USDT-M futures

0% maker / 0.02% taker

A single flat schedule rather than a tiered VIP ladder.

The one durable way to push those fees lower is the exchange’s own token. Holding or using MX applies a standard 20% deduction on both spot and USDT-M futures fees, and some sources cite a higher futures tier of up to 50% above an MX-holding threshold. MX itself is an ERC-20 utility token with a 1 billion maximum supply and a quarterly buyback-and-burn. Notably, MEXC publishes no conventional 30-day-volume VIP ladder — the schedule is flat-to-near-zero with per-pair special rates instead — and on-chain withdrawal fees vary by asset and network rather than following a single flat rate. All figures here are as of 2026-07-10, and a flat schedule like this can be re-priced at any time, so it is worth re-checking before you commit.

What makes MEXC distinct

What sets MEXC apart from Tier-1 exchanges

Strip away the marketing and MEXC’s edge comes down to two things: how quickly it lists new tokens, and how little it charges to trade spot. It lists early and in volume — 3,000+ assets by its own count — which puts newly issued altcoins within reach ahead of larger venues; the flip side is that a great many of those assets are unvetted and high-risk. On fees, 0% maker pricing plus a rotating roster of 0-fee promotional pairs (its “0-Fee Fest”) undercuts the roughly 0.1% base that most major exchanges charge.

Beyond speed and price, three products give MEXC a distinct shape that a prospective user should understand before choosing it.

Leveraged ETF tokens
Products such as BTC3L and BTC3S carry a fixed 2x–5x daily multiple and trade on spot — no margin account, no funding rate, and no liquidation price to watch. Convenient, but the fixed-multiple mechanics decay in choppy markets.
RealStocks
Launched 2026-06-03: 0-commission real US equities with dividend rights, alongside Ondo-issued tokenized stock and ETF pairs, folded into a single crypto exchange.
No-mandatory-KYC basic trading
Tier 0 allows account creation and basic spot/futures trading with withdrawals up to 5 BTC/day before verification — lower onboarding friction, at the cost of a weaker regulatory posture and real account-freeze exposure.

Who MEXC suits, and when a regulated venue fits better

The honest verdict is that MEXC is built for a specific kind of trader, not for everyone.

MEXC fits fast-moving altcoin and high-leverage traders who accept an offshore, unlicensed venue — anyone who needs regulatory recourse, or who lives in a market MEXC does not serve, is better off elsewhere.chainhelm editorial verdict

Concretely, it suits experienced crypto and early-token speculators, and derivatives users chasing high leverage at low cost, who knowingly accept the trade-offs of an unlicensed offshore exchange. For readers who do not fit that profile, the choice is worth laying out plainly.

Choose MEXC when

Breadth and low fees matter most

You want early access to newly listed, long-tail altcoins at near-zero spot fees plus high-leverage USDT-M futures, and you accept a non-MiCA, non-US-registered offshore venue.
Choose a regulated venue when

Recourse or your jurisdiction rules it out

You need a licensed venue with strong recourse — MX Global Ltd was flagged unlicensed by the Seychelles FSA (2026-05-26) and holds no MiCA authorization — or you reside in the US, UK, Canada, Singapore, Hong Kong, Mainland China, or, from 2026-07-01, the EU/EEA, where MEXC does not operate.

Against Tier-1 exchanges the comparison is genuinely two-sided: MEXC leads on the breadth and speed of new-token listings and on near-zero spot fees, while the Tier-1 venues charge more — roughly 0.1% base — but offer more thoroughly vetted assets and materially stronger regulatory standing. Which way that trade cuts depends on what you value; for readers in several major markets, though, the choice is made for them, as the next chapters set out.

MEXC regulatory landscape

Licensing standing: unlicensed across major jurisdictions

On paper MEXC reaches 170+ countries; in the eyes of financial regulators, it holds no major-jurisdiction license to do so. As of 2026-07-10, the Seychelles Financial Services Authority (2026-05-26) stated that the operating entity MX Global Ltd holds no license and never applied for one — a breach of the country’s VASP Act 2024 — while the Netherlands’ AFM (2025-09-16) flagged MEXC for operating without MiCA authorization.

Regional entitiesMEXC operates no own-brand regional entity that accepts new sign-ups. The only same-brand local applicant, “Mexc TR” (the Türkiye applicant entity), has been barred from onboarding new customers since 2025-07-17 — it is a matter of record here, not a route we point readers toward.

Prohibited, restricted, and exited markets

MEXC publishes its own list of jurisdictions it will not serve, and the map of where it is prohibited, restricted, or has exited is wide.

Prohibited outrightNo service or registrationNorth Korea, Cuba, Sudan, Iran, Mainland China, Singapore, United States, United Kingdom, Hong Kong, Canada, and Russian-controlled regions of Ukraine
EU / EEAMarket exit under MiCAUsers advised in June 2026 to withdraw before the 2026-07-01 deadline; no onboarding after
Netherlands, SeychellesRegulator warning / enforcementAFM MiCA warning; FSA unlicensed-operation notice
India, Japan, South Korea, IndonesiaApp-download restrictedMobile app or Android download blocked in-market
AustraliaAvailable, unlicensedNew sign-ups accepted; no local license and local caveats apply

The pattern is consistent: wherever a jurisdiction runs a functioning licensing regime for crypto, MEXC tends to be either shut out or operating at the regulator’s sufferance. Among the markets this article covers, Australia is the outlier where MEXC still onboards new users — but it does so without a local license, and with local regulatory caveats attached rather than the reassurance a licensed venue provides.

A tightening regulatory trajectory

Read as a sequence, these actions all point in one direction.

The direction of travel is tightening, not loosening — each recent regulatory action narrows where MEXC can lawfully serve new users.2025–2026 regulatory record

The AFM warning, the Seychelles enforcement notice, and the EU/EEA MiCA exit all land within roughly a year of one another, and they arrive on top of the 2025 account-freeze controversies. For anyone weighing MEXC, the takeaway is directional rather than momentary: availability in regulated markets is contracting, not expanding, and a market open to you today may not stay that way.

MEXC availability across major jurisdictions

Of the markets this article covers, Australia is the one where MEXC still accepts new sign-ups (see the regulatory-landscape chapter above). In the four below — the United States, the United Kingdom, Singapore, and India — MEXC does not accept new registrations, so the referral code cannot be applied at all. Because MEXC operates no own-brand regional entity that onboards new users, each section points instead to third-party venues licensed in that market. These are presented flat and on the facts: the aim is the outcome that serves you, not a detour back to MEXC.

United States: prohibited by MEXC — use a US-regulated venue

MEXC itself lists the United States as a prohibited jurisdiction: it accepts no new registrations and blocks US IP addresses, so there is no way to apply the code. This is a complete block with no MEXC path, so the sensible move is a US-regulated exchange.

NASDAQ-listed (COIN)

Coinbase

Holds an NYDFS BitLicense; available to residents in all 50 states, with USD ACH and wire rails and Form 1099 tax reporting.
FinCEN MSB

Kraken

Holds a Wyoming SPDI bank charter with a Federal Reserve master account and CFTC-regulated US futures via Bitnomial; available in every state except New York and Maine.
NYDFS trust charter

Gemini

Operates under a New York limited-purpose trust charter; available in all 50 states, with some asset limits in New York.
FinCEN MSB + MTLs

Crypto.com

Money-transmitter licensed across 49 states, plus a DCO/DCM and a trust charter; available everywhere except New York.

United Kingdom: FCA-flagged and off-limits — FCA-registered alternatives

The United Kingdom is a prohibited jurisdiction under MEXC’s User Agreement, and MEXC sits on the FCA Warning List (2024-03-22); neither a new sign-up nor referral use is possible. That points to an FCA-registered venue.

FCA-registered (FRN 900635)

Coinbase

CB Payments Ltd holds direct FCA cryptoasset registration (February 2025), enabling a direct GBP on-ramp for UK customers.
FCA-registered (FRN 928768)

Kraken

Payward Limited is FCA-registered, with an FCA e-money license (Payward Services, FRN 1010381) for GBP rails; new UK retail accounts face a 24-hour cooling-off period.
FCA-registered since Aug 2022

Crypto.com

Foris DAX UK Limited has been FCA-registered since August 2022, with an FCA e-money license added in December 2023.

One caveat applies across all three: the FCA’s ban on selling crypto derivatives to UK retail clients means none of them offers crypto derivatives to UK retail — spot and, where offered, other products only.

Singapore: prohibited under MEXC’s terms — MAS-licensed alternatives

Singapore is a prohibited jurisdiction under MEXC’s terms — its predecessor MXC appears on the MAS Investor Alert List — so a new sign-up with the code is not possible. The alternative is an MAS-licensed venue.

MAS MPI

Coinhako

Hako Technology Pte Ltd is MAS Major Payment Institution–licensed, with direct SGD deposits via PayNow and FAST.
MAS MPI (PS20200517)

Independent Reserve

Independent Reserve SG Pte Ltd holds an MAS MPI license and offers dual SGD and USD rails (PayNow/FAST and SWIFT).
MAS MPI (Sep 2024)

OKX SG

OKX SG Pte Ltd holds an MAS MPI license granted September 2024, authorizing spot digital-payment-token trading for Singapore customers.
MAS MPI (since Jun 2023)

Crypto.com

Foris DAX Asia Pte Ltd has held an MAS MPI license since 1 June 2023, extending DPT services to Singapore users.

All four hold an MAS Major Payment Institution license and provide SGD on- and off-ramps, in direct contrast to MEXC’s prohibited status.

India: services suspended since February 2026 — FIU-IND-registered alternatives

MEXC suspended all India services on 2026-02-28 — withdrawals only — while its FIU-IND registration remains pending, and it had already paused new India sign-ups from 2026-01-15. A new registration with the code is therefore off the table, so the route is an FIU-IND-registered venue.

FIU-IND registered

CoinDCX

Neblio Technologies Pvt Ltd is on the FIU-IND register, custodies Indian user assets under Indian law, and offers INR rails via UPI/IMPS/NEFT with automatic 1% TDS.
FIU-IND registered

CoinSwitch

Operated by Bitcipher Labs LLP and Nextgendev under PeepalCo; ISO/IEC 27001:2022 certified, with native INR rails and built-in TDS deduction.
FIU-IND + AUSTRAC

ZebPay

Awlencan Innovations India Ltd holds dual FIU-IND and AUSTRAC registration, keeps 98% of funds in cold storage, and funds INR via UPI/NEFT/IMPS.

Each of these is on the FIU-IND register and handles Indian TDS and PMLA compliance natively — the exact status MEXC lacks, since it is not on the register.

◆ ◇ ◆

Risks to acknowledge before using MEXC

Counterparty health and fund access

The question that matters most about any exchange is blunt: can it stay solvent, and will it let you withdraw? MEXC’s record on the second half of that question is mixed, and the clearest example is recent.

2025-07
MEXC froze a trader’s account holding roughly USD 3.15M over an alleged terms-of-service violation — the “White Whale” case, part of a wider 2025 “freeze wave” of profitable-account restrictions under risk control.
2025-10-31
CSO Cecilia Hsueh issued a public apology, and MEXC announced compensation for affected users.
2025-11
The frozen funds were returned in full.

The funds came back, but the episode is the point: it was one of a broader 2025 wave of restrictions on profitable accounts under risk control. And recourse is thin. With MX Global Ltd flagged unlicensed by the Seychelles FSA (2026-05-26) and MEXC flagged by the Netherlands AFM (2025-09-16), there is no major-jurisdiction regulator to appeal to if an account is frozen.

156.5%Average reserve ratioHacken-audited, June 2026
269%BTC reservesMerkle-tree PoR
118%ETH reservesMerkle-tree PoR
114%USDT reservesMerkle-tree PoR
125%USDC reservesMerkle-tree PoR
Reserves are not a withdrawal guaranteeProof-of-reserves over-collateralization confirms assets exist on a given date; it does not guarantee real-time withdrawal access if risk control freezes an account. MEXC also runs a Guardian Fund (stated USD 500M target) and a Futures Insurance Fund.

How much MEXC actually holds is itself contested — reserve estimates diverge sharply by source, a reminder to treat any single headline figure with caution.

MEXC self-reported≈USD 5.01B
DeFiLlama (clean assets)≈USD 4.11B
CoinGecko (tracked)≈USD 618M

One point cuts the other way, and it belongs in the record: since its 2018 founding, MEXC has had no publicly disclosed major hack or theft of user funds. The counterparty concern here is about fund access and recourse, not a history of breaches.

Regulatory exposure and unvetted-asset risk

Beyond solvency, three risks attach specifically to how MEXC operates — and each is something you carry, not something you control.

Future exclusion from your market
Regulated-market availability is tightening — the EU/EEA MiCA exit took effect 2026-07-01 — so today’s access is no guarantee you can keep using MEXC in your jurisdiction tomorrow.
No-mandatory-KYC exposure
Tier 0 lets you trade with withdrawals up to 5 BTC/day before verification, but it carries compliance and account-restriction risk, and MEXC does not routinely report activity to tax authorities — users self-report.
Unvetted-asset and securities risk
A very large number of newly issued, long-tail tokens are vetted by no securities regulator, and the tokenized US equities carry securities characteristics without US securities registration — both elevating loss and de-listing risk.