Crypto exchange MEXC says it successfully blocked more than 70,000 fraudulent transactions between April and June 2025, identifying over 8,500 crime syndicates behind the activity.
The firm attributes the 12% drop in fraud from the previous quarter to its upgraded security measures and concentrated efforts in regions most vulnerable to attacks.
Although MEXC has improved its detection systems, the global crypto fraud landscape is worsening. According to TRM Labs, AI-assisted scams have surged by 456% over the past year.
Fraudsters are increasingly using deepfake videos and voice cloning to deceive individuals, particularly in major cities like New York. So far in 2025, crypto-related scams and breaches have already drained more than $2.47 billion from users.
MEXC emphasised that the pace and coordination of these scams are more dangerous than their sheer volume. Its AI tools now monitor for abnormal trading behaviour, suspicious logins, and other real-time red flags without disrupting regular users. Much of the exchange’s recent efforts have focused on fraud hotspots.
In South Asia, which includes India and Pakistan, fraud fell by 41% after MEXC ramped up its community awareness efforts and bolstered threat response.
Southeast Asia, where scams spiked more than 1,300% earlier in the year, saw growth cool to 11% this quarter. Still, Indonesia remained a major target, accounting for 73% of all scams in the region—an 18% increase.
The CIS (Commonwealth of Independent States) region also experienced an 83% rise in fraud cases, though that marked a slowdown compared to previous quarters.
Despite MEXC’s progress, industry-wide figures show crypto users remain at risk. CertiK reports that phishing attacks and wallet thefts are the main culprits behind most losses in 2025.
Meanwhile, cybercriminals are increasingly leveraging AI to create more realistic and manipulative scams, prompting law enforcement across major cities to ramp up their efforts to counter this growing threat.
