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Unauthorized Crypto Custody: BaFin Cautions Consumers About MEXC
“BaFin investigates the company MEXC,” the title of the warning published on the German regulator’s website on Thursday said.
It added:
“The Federal Financial Supervisory Authority (BaFin) warns consumers about the company MEXC and the services it is offering.”
The warning further made it clear that financial services “may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this.”
MEXC is one of the top 20 largest crypto exchanges in world by spot trading volume, according to CoinMarketCap’s ranking of exchanges.
The exchange had a spot trading volume of close to $800 million over the past 24 hours as of press time.