Due to a TradingView graphic error, Bitcoin temporarily dropped to 0 dollars on MEXC. This caused a commotion on social media, but the error was not visible on the MEXC platform itself.
Nevertheless, MEXC's Volume increased by more than 51% over the past 24 hours. Unconfirmed rumors, if not resolved, can spread rapidly and cause Token dumping and market confusion.
MEXC Bitcoin Error
MEXC is a Seychelles-based centralized exchange, focusing on new upgrades this year. After outpacing competitors with meme coin listings in 2024, they announced today a shift from quantity to quality. However, this was overshadowed by other events. Traders reported Bitcoin dropping to zero dollars on MEXC for a moment.
This is what happened on MEXC yesterday.
— Crypto Beast (@cryptobeastreal) June 6, 2025
A wick sending bitcoin to ZERO for a few seconds, liquidating all BTC longs.
MEXC is a SCAM, i told you.
This exchange is owned by CRIMINALS.
When i say folks will wish they paid attention to my posts, I'm not joking. pic.twitter.com/rPf5X9eFAO
This immediately caused a commotion on social media. Such Bitcoin price errors could severely impact MEXC users. If BTC drops from over $100,000 to zero, all users' Longing positions would be instantly liquidated. This could be more serious than the JELLYJELLY incident on Hyperliquid, as it occurred due to a site error, not trader activity.
However, the MEXC team responded on social media, claiming the Bitcoin wick occurred only on the TradingView site:
"We recently became aware of posts circulating on some accounts claiming MEXC's BTC candle wick dropped to zero. This was simply a display error on the TradingView platform on June 5th, and there were no such issues on the official MEXC website, where everything was functioning normally," the developers announced.
The MEXC team claims they are collaborating with TradingView to diagnose the Bitcoin display error and prevent recurrence. They also urged the community to independently verify social media rumors and contact customer support if issues arise. However, this announcement came hours after the error occurred.
MEXC's Volume increased by more than 51% over the past 24 hours, mostly after the Bitcoin display error. However, it is currently unclear whether this increased Volume is due to users dumping assets, though such a possibility exists.
All of this demonstrates the importance of information verification and fighting false rumors. While MEXC was not associated with the Bitcoin display error, it still faced accusations of being a scam. The cryptocurrency sector moves quickly and trades based on community sentiment. Strong safeguards are needed to prevent incidents from escalating.
BeInCrypto contacted MEXC but has not yet received a response.
