Is Kaspa Community at War With MEXC? Traders Cry Foul Over KAS Price Manipulation

There seems to be an ongoing battle between Kaspa community and MEXC. Considering Kaspa holders are super bullish on KAS long-term

Kaspa, a cryptocurrency boasting advanced technology and a passionate community, has found itself at the center of heated debate thanks to a recent post by Kaspa Report. The post, now viral with over 2.4 million views and 30k likes, sheds light on a persistent issue: the community's frustration with MEXC, a major exchange.

The drama unfolded as MEXC abruptly halted Kaspa withdrawals on March 26th, attributing the move to technical upgrades. However, the community expressed skepticism, noting that any reputable exchange would typically notify customers in advance of such closures.

Moreover, while MEXC froze Kaspa withdrawals, it continued processing KRC-20 token transfers during the same period. This discrepancy sparked reactions, with some traders highlighting Kraken's transparency in showcasing 1-1 asset backing.

In contrast, MEXC remained silent on the matter, despite being tagged in several comments.

The post highlighted Christian Ludwig's efforts in urging traders to migrate to Kraken once withdrawals resume, a move motivated by the desire for an exchange that openly demonstrates the status of user funds.

This situation arose from a broader narrative that Kaspa Report has been consistently highlighting - the need for decentralized technology. In their view, centralized exchanges wield excessive power, enabling them to engage in actions like this with minimal repercussions.

The community is now using this moment as a wake-up call, emphasizing that Kaspa's technology could provide a solution to these exchange escapades. Ultimately, the message boils down to a simple yet profound statement: decentralization is the key.

As the dust settles, all eyes remain on MEXC to see if they will respond to the community's concerns and provide an explanation for the abrupt closure of Kaspa withdrawals.