MEXC, a cryptocurrency exchange, announced that it blocked over 70,000 fraudulent attempts between April and June 2025. More than 8,500 criminal gangs carried out these attacks.
MEXC claims that fraud has fallen by 12% compared to the previous quarter as a result of enhanced safety systems and targeted action in high-risk locations. While MEXC is improving, cryptocurrency scams are on the rise worldwide.
According to TRM Labs, AI-driven scams have increased by 456% between May 2024 and April 2025. In cities like New York, scammers are using fake videos and voices to trick people. In just the first half of 2025, over $2.47 billion has been lost to hacks and scams. Against this environment, MEXC’s algorithms detected 70,621 fraudulent attempts linked to 8,501 distinct syndicates from April to June.
MEXC says the real danger isn’t just how many scams are happening, but how fast and coordinated they are. The firm now employs sophisticated AI that identifies suspicious activity such as anomalous login attempts or false trades in real time. These mechanisms operate unobtrusively without inconveniencing genuine users.
MEXC concentrated on regions where fraud is higher. South Asia (India and Pakistan) saw fraud decrease by 41% after the company conducted campaigns to create awareness and was quicker in response to threats.
In Southeast Asia, where fraud had jumped by over 1,300% in Q1, the growth slowed down to 11% in Q2. However, Indonesia remained the most affected country, making up 73% of all fraud cases in the region, a rise of 18%. Fraud in the CIS region also continued to grow by 83%, although this was a less significant increase than in the last quarter.
Even with improvements at MEXC, total losses in crypto from scams and hacks are getting worse worldwide. Most of the money lost so far in 2025 came from phishing scams and stolen wallets, according to CertiK.
TRM Labs says that scammers are adopting AI to make their tactics more convincing, and authorities in large cities are trying to address the rising problem.
Also Read: MEXC Unveils $559M Payouts, Blocks $2.2M in Stolen Crypto
