Due to the MINIDOGE project team setting up a 50% Tax Fee for transfers made towards MEXC’s address, and another further 50% deduction for Liquidity Fee, it has caused every transaction to be deducted a total of 100%, causing the full amount for each transfer to be equal to zero.
The relevant evidence on the blockchain are as follows:
1. MINIDOGE’s Smart Contract On-chain Evidence (MEXC’s MINIDOGE Withdrawal Address) :
2. Evidence regarding fees deduction mentioned above:
The platform usually distributes the corresponding amount to users’ target addresses, however, due to the contract execution by MINIDOGE, the tokens which were supposed to be transferred were wholly deducted, causing no tokens to be sent to the user's target withdrawal address: https://bscscan.com/token/0xba07eed3d09055d60caef2bdfca1c05792f2dfad?a=0x4982085c9e2f89f2ecb8131eca71afad896e89cb#readContract
In MINIDOGE’s contract, it can be seen that the MEXC collection address is set to ‘AddressFees’, thus, all transfers will be completely deducted by the Fees set up: https://bscscan.com/tx/0xb3c3e847c5291065cb2bd4c666d13dbaaac05a4833b4e2ce77316fd5e137ace3
It is evident here that the owner of the contract has set up a special rate towards MEXC’s withdrawal address through the above contract call, with 50% Tax Fee and 50% Liquidity Fee, resulting in the amount received by users to be equal to zero.
MEXC has contacted the project team as soon as possible, however, we have yet to receive a response. In order to protect our users’ assets and legitimate income, MEXC will delist MINIDOGE at 2021-07-08, 09:30 (UTC). Although the MINIDOGE project team has exuded the above behaviours which was done deliberately to endanger the security of MEXC users’ assets, MEXC will implement an investors protection fund to remain responsible to our users.
The specific measures taken are as below:
1. For the tokens that have been withdrawn but destroyed by the project team, they will be advanced by the MEXC Investor Protection Fund and converted into the equivalent USDT airdrop according to the Over-The-Counter price of 0.00000011USDT.
2. For current holders of the token, you can choose to convert your tokens to USDT or to continue holding it based on the current situation. If you decide to convert your respective holdings to USDT, MEXC will advance the USDT equivalent at 10:00 (UTC) today at the OTC price of 0.00000011USDT; if you decide to retain the tokens, please fill up and submit the form provided: http://mxcfutures1106.mikecrm.com/28YzhV2
MEXC will issue the respective tokens to users’ accounts after the withdrawal issues have been resolved.
3. If the price falls, users who have yet to submit the form to indicate retention can contact customer service to register to convert their MINIDOGE into USDT at the price of 0.00000011USDT. MEXC bears the risk of falling. If the currency price rises, users who have already exchanged can pay 0.00000011USDT after the wallet transfer problem is solved. This plan is valid for 9 days.
Additionally, since the project team has excluded the MEXC address from the re-distribution for the tokenomics, this part of the tokens will not receive dividends. MEXC will continue to communicate with the project team to ensure maximum protection of users’ interest.
3. Explanation with regards to the price fluctuation:
As a trading platform, MEXC only provides users with a trading venue and does not interfere or get involved with the secondary market. This can be confirmed by data on the blockchain. Since the opening of the deposit services, two users of MEXC have made a high value deposit. The data shows that the deposit of the two addresses has accounted for 82% of the existing circulation on the platform. The deposit record is as follows:
For the deposit data of the 2 accounts, please refer to the transaction evidence below:
Total deposit amount for Account A：2189296399050.24 MINIDOGE (most of which has already been sold)
Account A’s Deposit Address：0x888b31d585a083b213073aba291064a7f72c0bab
Blockchain Explorer records (by address)：https://bscscan.com/token/0xba07eed3d09055d60caef2bdfca1c05792f2dfad?a=0x888b31d585a083b213073aba291064a7f72c0bab
(Screenshot of Account A's Deposit Records)
Total deposit amount for Account B：3337650781779.45 MINIDOGE (most of which has already been sold)
Account B’s Deposit Address：0x0a662f9664c08ab9c325981387bca7aeb539069e
Blockchain Explorer records (by address)：https://bscscan.com/token/0xba07eed3d09055d60caef2bdfca1c05792f2dfad?a=0x0a662f9664c08ab9c325981387bca7aeb539069e
(Screenshot of Account B's Deposit Records)
As a community-based trading platform, MEXC respects the opinions of our community and is committed to ensuring the safety of our users’ assets. We condemn all forms of intentional arbitrary destruction of our users’ assets. The price of digital assets fluctuate greatly, please be aware and cautious of the risks involved. If you have any concerns, please feel free to enquire through our online customer service or submit a request form.
We seek your understanding.
Thank you for your kind support.
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