Today somewhere for at least between 11:30AM and 1:50PM ET, the MEXC website was inaccessible. Some users experienced inability to access the site for an even longer period. A few users seemed to be able to access the exchange through mexc.co as opposed to mexc.com, but most seemed unable to access the exchange. Even for the few able to login did not benefit as features on the website were accessible after login, as most asset data would not load besides the basic website layout.
The website failure was apparently caused by increased traffic as, MEXC had a giveaway of a total prize pool 6000 USDT BONK3L tokens. If you traded BONK3L/3S(3x leveraged tokens) with >=300 USDT you receive 10USDT BONK3L tokens, assuming you were within the first 600 people(6000 USDT total prize pool/10 USDT per person).
First of all, maybe I'm just a whale but I can't see how the amount of people that are chasing a mere 10 USDT should be enough to crash the site. Secondly, the effort required to gain that 10 USDT is obviously not worth it and 'trading/rewards competitions' often heavily benefit exchanges through increased volume of trades and profits through fees while offering very little back to traders. The whole idea is just pretty scammy/very sketchyy to me. Just my opinion, but I am not a fan.
Regardless, we know crypto is volatile, chaotic and unpredictable especially nowadays. I just can't see how that this event should have brought enough users to understandably crash the site. And even if this was through, there no excuse for the site to be crashing in the first place, high traffic or not. There wasn't any official report, acknowledgement or update regarding the situation, probably just hoping to sweep it under the rug probably. I used to use MEXC alot, but I don't think I will anymore. And before people in the comments start ragging on me, realistic caution and FUD are very different things. Just like post questioning the state of FTX were mass downvoted before the withdrawal chaos, FUD is only FUD until it isn't. What the heck would have happened if crypto in general saw some real volatility outside of some very unenticing trading competition that brought real heavy traffic to MEXC. This situation today indeed gives quite enough information to seriously question if not doubt them. In this climate, exchanges should be doing better than this.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments