Market News

Crypto Fraud Trends in India Raise Alarm as MEXC Reports Soaring Scams

A recent report from MEXC, a prominent crypto exchange, highlights a significant increase in fraudulent trading activities.

In the first quarter of 2025, scams and market manipulation surged by 200% compared to the previous quarter.

India has emerged as a hotspot for these fraudulent schemes, with nearly 27,000 suspicious accounts identified.

MEXC uncovered over 80,000 instances of fraud, mostly orchestrated by groups utilizing fake trades and automated bots.

The low trading fees and the introduction of new tokens on the exchange are believed to have attracted both genuine users and scammers alike.

Additionally, Indonesia and the CIS region also reported alarming figures, with Indonesia witnessing a shocking 1,300% increase in suspicious accounts.

Experts attribute this trend to a knowledge gap among potential investors, particularly in India, where only a fraction of the population is well-versed in financial literacy.

Many individuals are misled by dishonest influencers on social media platforms who promote fake investment opportunities.

In response to the escalating fraud, MEXC is enhancing its security measures and educating users on how to safeguard their investments.

With these proactive steps, MEXC aims to combat the rising tide of crypto-related scams and promote safer trading practices.