Between January and March 2025, the MEXC Crypto Exchange observed a rise in fraudulent trading activity of 200% in comparison with the quarter.
According to the exchange, 80,057 attempts to fraud were identified within the second quarter of over 3,000 fraud syndicates. The fraudulent activities included market manipulations, washing trade and automatic trade bots that users benefit from by “unfair” trading.
Mexc said that the rise in fraud in India was most pronounced, with the exchange marked almost 27,000 accounts for suspicious activities, followed by the region Commonwealth of Independent States (CIS) and Indonesia, which had 6,404 and 5,603 accounts.
Distribution of fraud with probably the most affected regions. Source: Mexc
Tracy Jin, Chief Operating Officer at MEXC, said that the fraudulent activity had been heated by a gradual stream unsuspecting victims that were merged through social engineering fraud. Jin added:
“While Defi Exploits was characterised in 2021, 2025 is increasingly characterised by socially developed market manipulations. We have observed a growing variety of so-called” educational trade groups “, which appear to be coordinated efforts to be misleading users.”
An absence of education about cryptocurrencies and trade was the most important reason for the rise in fraud. Many latest users in these countries entered the markets before they understood shared fraud and financial technology traps on crypto users, said Mexc.
https://www.youtube.com/watch?v=vlicokjsip8
The recent knowledge from the exchange underlines the necessity for education and awareness of common fraud that goals at crypto users with the intention to avoid malicious actors.
Social engineering attacks increase in the primary half of 2025
In April 2025, Onchain Detective ZackxBT Incident revealed details about an older one who lost 330 million US dollars in Bitcoin (BTC) in a social engineering fraud.
According to a later update from ZackxBT, the Binance Security Team and other blockchain security corporations helped to freeze 7 million US dollars of the 330 million US dollar.
Crypto Exchange Coinbase gave a knowledge violation and a subsequent ransom attempt in May 2025, which can have influenced as much as 70,000 customers of the exchange.
https://www.youtube.com/watch?v=t06mvwz6ngm
However, the threats with data identification data, including names, addresses and telephone numbers, weren’t affected by private keys or user money through the data injury.
However, the founder Michael Arrington, founder, warned that the information injury will probably put investors into the physical danger by revealing their contact information.
