AMA Session Transcript

AMA Session for MEXC

MEXC TEAM FEELS IT IS OUR RESPONSIBILITY TO SHARE THE FIASCO IN DOBI SO THAT TRADERS, INVESTORS AS WELL AS THE CRYPTO COMMUNITY, IN LIGHT ON WHAT HAPPENED, AS A PRECAUTION ON HOW RISKY AND TRICKY NON — REGULATED FINANCIAL INDUSTRY IS!!

WHAT WE GOING TO SHARE MAYBE QUITE MIND-BOGGLING, AND INCREDIBLE, AND MAYBE SOME OF YOU GUYS OUT THERE FELT THAT THIS WOULD NEVER HAPPEN TO YOU, UNLESS YOU EXPERIENCED IT YOURSELF!

WE ARE GOING TO PRESENT ALL THE FACTS AND THE CHRONOLOGY OF THE EVENT AND ALL OF YOU PLEASE SERIOUSLY CONSIDER THESE AS A PRECAUTION, TO AVOID HEAVY LOSSES THAT INCURRED TO US FROM THIS DOBI FIASCO!

BUT THE MOST RIDICULOUS THING IS THAT UNTIL NOW, DESPITE HAVING PRESENTED ALL THE FACTS TO DOBI, THEY DID NOT ACKNOWLEDGE THEIR NEGLIGENCE IN ALLOWING THIS MAJOR SECURITY BREACH HAPPENED ON THEIR TRADING PLATFORM AND WE HAD EXHAUSTED ALL AVENUES TO RESOLVE THIS AMICABLY AND HAVE NO CHOICE BUT TO TAKE LEGAL ACTION AGAINST DOBI TO RESTORE OUR RIGHTS.

THIS IS WHAT HAPPENED ….

The Dobi Fiasco — Riding The Storm

IEO & AirDrop (7 July to 8 August 2019)

1. Introduced to Dobi by a local collaborator, met the Dobi Team, the response was very fast from DOBI and MEXC IEO & listing announcement up on Dobi Exchange website in no time without we even paying anything
2. MEXC became the Star IEO on DOBI and our volume was so great that MEXC was just below BTC & ETH transactions volume even at IEO stage
3. The Airdrops was also successful that DOBI claimed that more than 1000 MEXC holders on DOBI which until now we haven’t got the Official Report as well the return of the balance from the 1,000,000 MEXC allocated for this exercise!
4. DOBI was promoting MEXC actively on Dobi Community and we were looking forward to long term partnership with Dobi
5. In the 2nd week when our IEO was yielding good collection, things started to behave strangely, on few occasions, the selling price was lowered (MEXC IEO was @usd0.03) on 3 pairs MEXC/BTC, MEXC/ETH & MEXC/USDT
6. As our collections grew, more incidences of tampering of the IEO price occurs which later was corrected when we complain to Dobi Technical Team
7. Final week of the IEO, the attack became worse as NOW suddenly ‘THE ATTACKER’ could even sell ‘THEIR MEXC’ back to us and collected our BTC and ETH : we lost about 1.5BTC from our records (on the price tampering that we could track) but we believe that more was stolen as ‘THE ATTACKER’ also match our selling price but sold ‘THEIR MEXC’ and the proceeds did not come to us!
8. This leads to ‘heated discussion’ with the DOBI Team which later compromised to contra off our balance Listing Fee with the amount taken from our IEO from the ‘THE ATTACKER’ account frozen by Dobi as they somehow could track these transactions, the case was settled but Dobi still insisted no SECURITY BREACH ;

ALL THESE ARE DOCUMENTED FOR LATER SUBMISSION AS DOBI’S NEGLIGENCE IN OUR LAWSUIT AGAINST DOBI

Listing Day

1. This is the Big Day as we had created the excitement on Dobi, our supporters joined DOBI to trade MEXC ‘Virgin Listing’ and MEXC is the one or two coins that got listed after Dobi LaunchPad as many we saw just disappeared when the IEO end, not listed!
2. MEXC opens at USD 0.20 on the 1800 UTC+8/SG/HK and the price goes up steadily despite we saw some strange dumping in the first hour (we were wondering too why this dumping to USD0.03 as ‘sold MEXC’ by right is USD 0.20), we corrected this back and the price steadily rose to USD 0.40
3. 2 days later, 10 August, circa 1700 UTC+8/SG/HK, the dumping starts, thousands of MEXC simply sold at rock bottom price, causing panic sell which pushed the price further down and by 11 August 0200 UTC+8/SG/HK, all our capital gone in trying to defend MEXC price and everytime we tried to push up the price, ‘THE ATTACKER’ simply dump again thousands more MEXC!!
4. We could only watch helplessly as our crypto assets diminished right in front of our eyes scratching our heads, figuring out what went wrong, triggering this DISASTER!
5. But we still feel that it’s our responsibility to push back the price and using whatever left of our crypto assets, we managed to stabilize the price back to USD0.25 and losing more crypto assets along the way!
6. Without mercy, ‘THE ATTACKER’ dumped again more MEXC and despite all our call for help to Dobi Technical Team fell on deaf ears, we made a conscious decision to pull out all our MEXC from the Trading Pairs altogether as we cant sustained anymore without burning any more Trading Capital!!
7. MEXC officially announced within our Community that we suspended Trade on all 3 pairings but to our amazement, ‘THE ATTACKER’ took over control on all our 3 pairings, selling MEXC that we do not know the origin of and run amok on our MEXC trading platform!
8. Only 3 days later the Dobi Technical Team reappeared, still denying of the security breach on Dobi Trading platform! Any sane person would be angry in this situation and of course, we gave an earful to Dobi Technical Team
9. We did an audit on all the MEXC we had to buy back during the Dumping Fiasco, and discover the Real Reason of this Dumping!!
10. ‘THE ATTACKER’ basically has more MEXC than we had and extra 14m+ was collected as well posted on the Book Order on our 3 pairings!!!

WHERE DID THESE MYSTERIOUS MEXCs COME FROM!!!

Delisting from Dobi Exchange — MEXC Exit Plan

Plan your exit…

1. We know from the start of the trading that things are messed up in DOBI. From the IEO time, we have faced so many hurdles, and when during the first trading day we experienced difficulty, we know that moving forward is an uphill battle
2. We carry the responsibility of many people — our funders, our shareholders, our supporters, our family, and last but not least, the MEXC team who have worked tirelessly for the past 1-year to bring MEXC to the market
3. We took a moment, and look at ways on how we can move forward unscathed:

We need to ensure that MEXC project goes on

We need to ensure that our supporters are being taken care of

We need to ensure that we are not violating any laws in exiting from DOBI

We need to ensure that all other people are affected as minimal as possible — only DOBI should feel the pinch and the consequences.

1. As such, we know that we must do a new Smart Contract, as the MEXC that we have on DOBI are already tainted. They can use the unaccountable MEXCs to dump the price as they wish.
2. Next, we know we have to get out of DOBI as soon as possible. But how do we do this without DOBI getting noticed, as we have another war with them soon?
3. We have to find a few other exchangers, as DOBI is the only exchanger for MEXC at the moment
4. We have to make DOBI pays for the action, as we believed this fiasco was clear negligence on their part
5. We want to sue DOBI for USD 200,000,000 (two hundred million US dollars), as our funders insist that they have to go to jail for their actions, and allocated a USD 1,000,000 (one million US dollars) litigation funds for this case. The demand amount is huge as our funders are not looking for any negotiations at all with DOBI. They want to expose them in the court of law, and we want to see them sent behind bars
6. Our funders insist that there are 2 separate teams — Project Team & Litigation Team. Each Team fully focused on their roles!
7. We quickly negotiated with 4 other exchangers, and get their confirmation to be listed there. Now that we got the exchangers to welcome MEXC to their platform, we have to transfer the new MEXC on DOBI out.
8. The problem is, DOBI insisted on 0.3% withdrawal fees. At 300 million MEXC on DOBI, we have to pay 900,000 MEXC to DOBI. After all these experiences, we can’t let DOBI hold our MEXC at all. The only solution left is to create another new MEXC for WhiteBit exchange, and re-distribute the new MEXC all over again.
9. We did just that to protect our MEXC holders. The best timing to create our new Smart Contract, is during DOBI’s system upgrade. We let them complete their upgrade exercise, while we are focusing on WhiteBit to have a place for our MEXC holders. Once DOBI has completed their migration exercise, we quickly put a Wallet Maintenance exercise on DOBI.
10. On 9/9/2019, we got our confirmation on ExRates as our second exchanger, and we quickly write our story to the world, put a de-listing notice to DOBI, and slap them with USD 200 million Letter of Demand.
11. These can only be done with in-depth research on anticipating their actions, plans with impeccable timing and precision execution of those plans.

CLEAR OBJECTIVES, WELL PLAN OF ACTIONS & PRECISE EXECUTIONS !!

Listing on ExRates — Why MEXC?

My favorite question that I always asked .. Where Is The Business?

MEXC is not just another Token, MEXC is Tokenized EMS Business

EMS is Emergency Medical Services:

1. USD 7b per annum business with MEXC EMS inventions & innovations addresses 90% of this Industry
2. This is the Service that increases the chances of survival in any disaster like accidents or chemical or biological disaster resulting in saving lives and avoiding permanent disabilities
3. Emphasizing on the First Golden Hour to Facilitate the Right Emergency Responses
4. The MEXC EMS manufacturing shall be supported by fully first Blockchain-based ERP running at 5,000 TPS and fully matured to 20,000 TPS on a Just In Time Distributed Manufacturing
5. Real Team, Real Business, Proven Products, Saves Thousands of Lives
6. MEXC EMS owned 25 Patents, 6 copyrights & 5 Industrial Designs already proven & used in over 30 countries globally in Emergency Medical Services
7. Developed over 20 years throughout the career of the Inventor Prof Dr Abu Hassan, the Father of Modern Emergency Medical Services in Asia
8. You can see MEXC team and the Range of MEXC EMS Products (slides posted)

MEXC Price Historical Data

Let us discuss the historical price of MEXC:

ICO was USD 0.01

IEO @USD 0.03

First Listing on Dobi / WhiteBit @USD 0.20 and

currently @USD 0.37.

1. MEXC is currently listed on WhiteBit with a 24 hours volume of USD 700k (was usd1M before the Dobi Fiasco) ;
2. What’s the pattern here? MEXC price steadily increasing despite all the challenges and all MEXC holders investment appreciated!
3. ExRates shall be MEXC second listed exchange and within 2 weeks MEXC will be on Coin Market Cap priced @USD.40 and what would that price go up to?
4. One thing for sure that MEXC Market Cap shall be minimum USD100,000,000.00, that’s top 50 on CMC!
5. Any Top 50 token on CMC, LIQUIDITY is no longer of an issue !!
6. You can see MEXC is the crypto asset TO GO FOR !!

Value of MEXC and EMS Market Share

1. Global EMS Business as we shared earlier is USD 7B per annum and MEXC EMS inventions and innovations address 90% of the Market (USD 6.3B potential)
2. For The Financial Year 1, MEXC EMS business is projected of only 5% of the market share targeting LOW HANGING FRUITS, our existing installed bases in SEA and MENA that’s USD 300M
3. As MEXC is supported by REAL BUSINESS FUNDAMENTALs, MEXC Market Cap shall be the REAL MEXC EMS Business Turnover, that’s USD300M, making MEXC Top 30 on CMC and let’s GUESS whats MEXC price after a year ??!

HELP SAVES LIVES AND GROW YOUR CRYPTO ASSETS WITH MEXC !!