1-6-2025 – MEXC cryptocurrency exchange has unveiled disturbing statistics showing fraudulent trading activities have trebled in the opening months of 2025.
The platform’s internal investigation exposed a web of sophisticated criminal enterprises, with more than 3,000 organized syndicates orchestrating approximately 80,000 instances of market manipulation. These illicit activities encompassed wash trading schemes and deployment of aggressive algorithmic trading systems.
The Asian markets have emerged as particular hotspots for suspicious activities. Whilst India registered the highest volume with 27,000 flagged accounts, Indonesia witnessed the most dramatic escalation, recording a staggering thirteen-fold increase in dubious trading patterns compared to the previous quarter. Significant criminal activity was also detected across the Commonwealth of Independent States (CIS).
MEXC’s Chief Operating Officer, Tracy Jin, drew attention to an evolving threat landscape, noting a marked shift from the DeFi security breaches of 2021 to more nuanced social engineering tactics in 2025. Jin expressed particular concern about the proliferation of pseudo-educational trading groups, which she described as coordinated schemes designed to deceive investors.
The surge in fraudulent activities appears to correlate with troubling gaps in financial literacy, particularly in emerging markets. Recent findings from the National Centre for Financial Education paint a stark picture, with merely 27% of India’s adult population demonstrating basic financial acumen—significantly lower than the global benchmark of 42%. The situation appears particularly acute among millennials, where only 19% meet financial literacy standards despite displaying high levels of confidence in their investment decisions.
The cryptocurrency sector’s regulatory landscape continues to evolve, with even developed markets facing persistent challenges. In the United States, despite leadership changes at the Securities and Exchange Commission, authorities recently moved against Unicoin and its leadership team over allegations of investor deception involving $100 million in funds.
These developments echo previous patterns observed by MEXC, particularly in regions such as Vietnam and the CIS, suggesting a cyclical nature to cryptocurrency-related fraud. The findings underscore the pressing need for enhanced regulatory oversight and comprehensive investor education programmes across both emerging and established markets.
