TradingView Glitch Showed Bitcoin Wicking to $0 on MEXC

Monicah W

A graphical error on TradingView caused Bitcoin to temporarily wick to zero on MEXC. This caused a social media uproar, but the glitch was not visible on MEXC’s own platform.

Nonetheless, MEXC’s trading volume spiked over 51% in the last 24 hours. Unverified rumors can take off like wildfire if not addressed, potentially leading to token dumps and market chaos.

A Bitcoin Error on MEXC

MEXC, a Seychelles-based centralized exchange, has been focusing on new upgrades this year. After outpacing competitors with meme coin listings in 2024, it announced today that it’s shifting from quantity to quality. However, this was overshadowed by other events, as traders reported that Bitcoin briefly wicked to zero on MEXC.

This immediately caused a social media uproar, as such an error in Bitcoin’s price would severely impact MEXC users. If BTC went from over $100,000 to $0, this would immediately liquidate all users’ long positions. Such a scandal might be worse than Hyperliquid’s JELLYJELLY incident, as this would be caused by a site error instead of trader activity.

However, MEXC’s team went on social media to address the alleged Bitcoin wick, claiming that it only happened on TradingView’s own site:

“We have recently become aware of some posts circulating on certain accounts claiming that MEXC’s BTC candle wick dropped to 0. We would like to clarify that this was simply a display error on the TradingView platform on June 5, and there was no such issue on MEXC’s official website, where everything has been functioning normally,” developers stated.

The MEXC team went on to claim that it was collaborating with TradingView to diagnose the Bitcoin display error and prevent it from happening again. It also urged the community to independently verify social media rumors and contact customer support in the event of a problem. Still, this announcement happened hours after the glitch.

MEXC Trading Volume
MEXC Trading Volume. Source: CoinGecko

MEXC’s trading volume spiked over 51% in the last 24 hours, mostly occurring after the Bitcoin display error. However, at the moment, it’s unclear if this heightened volume was due to users dumping assets, but such a thing is possible.

All that is to say, this demonstrates the importance of verifying information and fighting false rumors. MEXC didn’t have anything to do with the Bitcoin display error, but it still faced accusations of being a fraudulent business. The crypto sector is fast-paced and trades on community sentiment, after all. It needs strong guardrails to prevent accidents from blowing up.

BeInCrypto has reached out to MEXC, but we are yet to hear back.

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Hackers Steal $7 Million From Loopscale and Term Finance DeFi Protocols

The decentralized finance (DeFi) sector faced another major setback this weekend as two protocols, Loopscale and Term Finance, suffered exploits totaling over $7 million in losses.

These incidents have fueled growing concerns about the vulnerabilities of DeFi platforms in 2025.

Loopscale Loses $5.8 Million in Major Exploit

On April 26, Solana-based Loopscale reported a significant security breach impacting its USDC and SOL vaults.

The exploit drained around $5.8 million, representing roughly 12% of the platform’s total value. Notably, this attack came just two weeks after Loopscale’s official launch.

Loopscale’s co-founder, Mary Gooneratne, confirmed that an attacker exploited the system by securing under-collateralized loans.

Investigations revealed that the root cause stemmed from an isolated issue in the platform’s RateX-based collateral pricing system.

However, Loopscale clarified that RateX itself was not compromised.

“The root cause of the exploit has been identified as an isolated issue with Loopscale’s pricing of RateX-based collateral. There is no issue with RateX itself related to this. Loss of funds explicitly affects depositors to SOL and USDC Genesis vaults,” Loopscale stated.

Following the breach, Loopscale temporarily halted all markets to assess the damage.

The platform has since resumed partial operations, enabling key functions like loan repayments, top-ups, and loop closures, while vault withdrawals remain restricted.

To recover the stolen funds, Loopscale offered a 10% bounty to the attacker and proposed a whitehat agreement.

The platform requested the return of 90% of the stolen assets and warned of legal action if the attacker did not respond by April 28.

“We agree to allow you to retain a bounty of 10% of the funds (3,947 SOL) and release you from any and all liability regarding the attack,” Loopscale added.

Loopscale is currently working with security firms and law enforcement agencies to manage the situation.

Term Finance Suffers $1.5 Million Liquidation Loss

Meanwhile, Ethereum-based Term Finance, a pioneer in scalable fixed-rate lending, also reported a security incident on April 26.

Blockchain security firm TenArmorAlert identified two suspicious transactions linked to Term Labs, resulting in losses of about $1.5 million.

“It appears that something is wrong with the liquidation. Someone spent a very small amount of ETH to liquidate over 586 Treehouse collateral,” TenArmorAlert stated.

Term Finance later confirmed that a faulty update to its tETH oracle caused the problem. Fortunately, no smart contracts were exploited, and the issue was contained within the tETH markets.

The platform assured users that all other funds remain secure and has committed to a full reimbursement plan for those affected.

These attacks contribute to a worrying trend in 2025, with crypto projects losing close to $2 billion this year.

High-profile incidents like Bybit’s $1.46 billion hack in February have shaken confidence across the industry.

Tim Haldorsson, founder of Lunar Strategy, questioned whether DeFi returns justify the ongoing exploit risks.

He suggested that DeFi yields might lag behind traditional investments like bonds once adjusted for hack-related losses.

“How safe is actually all this defi? We are chasing yield, but hack-adjusted is it actually better than just holding bonds,” Haldorsson questioned.

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GoMining is Turning Bitcoin Mining into League-based Competitive Gaming

GoMining has introduced a competitive gaming league that ties real-world Bitcoin mining to clan-based competition. 

According to the project’s claims, Miner Wars now hosts more than 245,000 active Bitcoin miners and distributes a prize pool of 1 BTC every day. 

Gamifying Bitcoin Mining 

The new league builds on GoMining’s global infrastructure, which includes nine data centers and a combined capacity of 7.5 M TH/s. The game leverages established connections with leading US mining providers without relying on third-party facilities.

At its core, Miner Wars uses digital miners—tradeable NFTs that represent a share of GoMining’s industrial-scale hardware. 

Purchasing a digital miner allows users to commit terahashes to GoMining’s pools and receive proportional rewards when the network mines a new block. 

Those same NFTs serve as entry keys for Miner Wars rounds, which run 120–150 times daily. Each round mirrors Bitcoin’s block-creation protocol. When a new block appears on the blockchain, its hash determines the winning clan.

“Positioned at the intersection of digital mining and GameFi, Miner Wars has found a welcoming niche with a loyal and stable audience. It serves as a cross-platform gateway for the mining newcomers,” Mark Zalan, CEO of GoMining, told BeInCrypto. 

Clans that commit more terahashes have higher odds of securing the day’s Bitcoin reward, while in-game purchases and boosts add GOMINING token rewards and tactical variety. 

The GOMINING token was launched in 2022 as GMT, but later rebranded in 2023. After the new ‘clan league’ feature announcement today, GOMINING went up nearly 10%. Its daily trading volume also surged by nearly 35%, according to CoinMarketCap. 

gomining token price chart
GOMINING Weekly Price Chart. Source: CoinGecko

Since its launch in September 2024, the game has attracted over 165,000 unique players and generated more than $58,000 in in-game purchases. 

Can Gamification Make Mining More Accessible? 

Crypto mining has always been a challenge for non-sophisticated and non-technical individuals. It’s always seen as a niche reserved for a specific community. 

However, gamifying Bitcoin mining transforms passive operations into interactive experiences that boost engagement and broaden participation.

Gamified platforms can decentralize mining by attracting diverse participants and encouraging broader hash-power distribution. They also serve educational purposes, teaching newcomers about mining economics and network dynamics through hands-on competition. 

As Web3 games are booming and attracting investor attention, gamification can democratize access to mining returns. 

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