Trader White Whale has launched an aggressive campaign against the cryptocurrency exchange MEXC after $3.1 million of his funds were frozen. He accuses the exchange of a lack of transparency and an unjust approach towards users.
Reasons for the Conflict
On August 24, the trader stated that MEXC had frozen $3.1 million of his funds without providing a clear reason. White Whale claims he followed all of the exchange’s requirements, including video identification and proof of address.
White Whale's Campaign
On August 25, the trader initiated a $2.5 million social media campaign, calling on people to create free NFTs and use the hashtag '#FreeTheWhiteWhale' to support his demands from MEXC. He announced that the first 20,000 participants would equally share a $1 million USDC reward if his funds were unfrozen.
Issues Faced by MEXC Users
White Whale is not the only one facing difficulties on MEXC. In April 2025, another user, Pablo Ruiz, also reported a $2 million Tether freeze without explanation, citing a 'risk control' protocol.
The conflict between White Whale and MEXC highlights the need for transparency in cryptocurrency exchange operations and the necessity of protecting user rights.
