Margex is an online trading platform based in Seychelles.
On December 3rd, every user received an email stating that all XRP trades conducted after November 10th would be canceled, and any profits made during this period would be confiscated by Margex. This decision caused millions of dollars in losses, with the total damage exceeding $35 million due to what can only be described as a massive rug pull by the Margex platform.
To make matters worse, Margex completely froze withdrawals for USDT and other trading pairs, further intensifying the scam. Influencers on YouTube, who heavily promoted Margex and earned millions of dollars in fees through referral links, are now silent. This does not mean we are judging or blaming them until we have full proof and the investigation is complete.
But we won’t stay silent! We are coming for you, Margex.
15+ million grabbed from XRP closed trades
Thousands of withdrawals have been frozen
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