tl;dr
A graphical error on TradingView caused Bitcoin's price to temporarily show as zero on MEXC, a Seychelles-based centralized exchange, leading to a social media uproar and accusations of fraud. However, MEXC clarified that the issue was a display error on TradingView's platform and did not occur on i...
A graphical error on TradingView caused Bitcoin's price to temporarily display as zero on MEXC, a Seychelles-based centralized exchange, sparking a social media uproar with accusations of fraud despite no issue on MEXC’s own platform.
MEXC clarified that the error was purely on TradingView’s display and not on its exchange. The company is collaborating with TradingView to diagnose and fix the display glitch to prevent future occurrences.
Following the incident, MEXC experienced a 51% spike in trading volume within 24 hours, highlighting how unverified rumors can dramatically influence market behavior, potentially leading to token dumps and chaotic trading conditions.
The situation underscores the critical importance of verifying information in real time to avoid misinformation-driven market turbulence in the fast-paced world of cryptocurrency trading.
Social media reactions included claims that Bitcoin’s price wick to zero would liquidate all long positions, further inflaming fears. However, MEXC assured users that their platform functioned normally throughout the event.
This episode serves as a reminder of how community sentiment and rapid information spread can amplify perceived crises, emphasizing the need for strong communication and verification channels in crypto markets.