😳 #MEXC — is a crisis looming?
There are a lot of rumors that might hold some truth: MEXC has a $260 million debt to Aave. The health ratio of the deal is around 1.01, and liquidation hits at 1.0, so the exchange is on the brink of collapse.
➖ Daily debt growth is around ~$110k just from interest
➖ The issue became known after the KelpDAO exploit
➖ The wallet believed to be the "MEXC wallet with debt" hasn't been confirmed yet
➖ Panic is mostly spreading through Twitter, fueled by classic FUD
What should you do?
If you have funds on the exchange, it's better to withdraw them to zero to avoid potential losses.
There are a lot of rumors that might hold some truth: MEXC has a $260 million debt to Aave. The health ratio of the deal is around 1.01, and liquidation hits at 1.0, so the exchange is on the brink of collapse.
➖ Daily debt growth is around ~$110k just from interest
➖ The issue became known after the KelpDAO exploit
➖ The wallet believed to be the "MEXC wallet with debt" hasn't been confirmed yet
➖ Panic is mostly spreading through Twitter, fueled by classic FUD
What should you do?
If you have funds on the exchange, it's better to withdraw them to zero to avoid potential losses.