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Hello guys, today I want to share something that I recently experienced regarding the HBD token price shown on Coin Market Cap. Maybe some of you also noticed it, but if not, then keep reading because this might save you from a potential scam.
So, I usually keep track of some tokens on Coin Market Cap because I have invested in them. Whenever their price goes up or down beyond a certain limit, I get notifications about it. Since last 2-3 days, I was receiving notifications regarding HBD token price, and it was showing some unusual activity. The price was fluctuating in a way that made me curious.
Now, let’s be honest, every person has a little bit of greed when it comes to making profits. If you hold some HBD tokens and suddenly you see that you are getting a good conversion rate, then obviously you will think of selling it and later buying it back when price drops. Even I thought the same. So, I decided to check on which exchanges I can buy or sell HBD token. After looking at Coin Market Cap, I found two exchanges listed for HBD trading – first one is Upbit and second is MEXC.
I first checked Upbit exchange, and there everything was normal. The price of HBD token was showing the usual value as expected. But when I checked the MEXC exchange, it was showing HBD token price around 3.805$, which is much higher than the normal price. Now, I don’t have too many HBD tokens, but still, I thought maybe I should convert them and take advantage of this price difference. But before that, I decided to do a little research about this exchange. I wanted to be sure whether MEXC is a legit exchange or some kind of scam.
After reading many blogs and articles about it, I found out some shocking things. This exchange allows you to trade without KYC (at least in the beginning), which makes it look convenient. But the main problem starts when your funds increase, or you are in profit. Many people have reported that as soon as they make some good profit, the exchange blocks their account. Basically, they don’t let you withdraw your money. This is how they scam users. Now, I have not personally faced this issue because I didn’t use the exchange, but I am sharing this based on what I read from other people’s experiences.
Another interesting thing I found is that the trading data they show is not real. The price you see on their platform is manipulated. It looks like a high price, but in reality, it’s just a fake number generated by their system. This means whatever trading volume or price movement you see on MEXC, it’s not actually happening in the real market. It is just being shown to trap people into thinking they can make profits. Even on TradingView, the price of HBD shown is mostly influenced by this exchange, making it look legit when it’s actually not. So if you are also thinking to sell your HBD, please do proper research before choosing an exchange.
After reading and understanding all this, I personally feel that this exchange is a scam. I may be wrong, and if anyone here has real experience with this exchange and knows more about it, please share in the comments. I would love to hear your thoughts and correct myself if I have misunderstood anything.
Stay safe and always do your own research before trading!
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