9 hours ago
A crypto whale who has $3.1 cardinal successful funds frozen connected crypto speech MEXC claims helium was told to alert to Malaysia to beryllium his individuality successful idiosyncratic to person his funds released quickly.
According to screenshots shared by the pseudonymous crypto trader “White Whale” MEXC’s planetary caput of lawsuit work offered him an “exclusive invitation” to Malaysia to person an “in-depth connection with the enactment team” astir the frozen assets.
Source: The White WhaleThe reported determination would beryllium extracurricular the norm for crypto exchanges. Know Your Customer solutions typically impact impervious of address, verification of root of funds, identification, and different documents that tin beryllium sent online.
Screenshots of emails and Telegram chats shared by the trader besides suggest that MEXC tried to lure them with a imaginable concern and “trading perks,” but the crypto trader rejected the offer, criticizing MEXC for utilizing coercive tactics portion flagging information concerns astir flying to a overseas state nether the circumstances.
“Crypto kidnappings are connected the emergence - wherefore would idiosyncratic with implicit $100M on-chain ever hold to alert to different state and participate the lion’s den of an enactment he's publically protesting against?”MEXC says it doesn’t frost assets without reason
A MEXC spokesperson told Cointelegraph that it “strictly adheres to hazard absorption policies and does not frost assets without valid reasons.”
MEXC said it whitethorn instrumentality measures successful effect to terms manipulation, lavation trading, self-trading, front-running, fraudulent trading and mendacious quoting.
The spokesperson did not code the trader’s claims of being offered to alert to Malaysia to resoluteness the situation.
Crypto trader has been pressuring MEXC to merchandise funds
The crypto whale added helium has completed each different KYC checks, including look verification, telephone number, and location address, and noted that MEXC’s Terms of Service makes nary notation of in-person KYC.
Earlier connected Monday, White Whale launched a $2 cardinal societal media unit campaign against MEXC successful an effort to marque them manus the funds over.
The run involves crypto traders minting a escaped non-fungible token (NFT) connected the Base web and tagging MEXC oregon its main operating officer’s X relationship with the “#FreeTheWhiteWhale” tag.
For completing the tasks, a $1 cardinal USDC (USDC) bounty volition beryllium divided arsenic betwixt the archetypal 20,000 NFT holders, provided that MEXC releases the frozen funds.
White Whale isn’t the archetypal MEXC idiosyncratic to complain
MEXC’s comments to Cointelegraph were akin to the company’s connection successful March, successful effect to a bid of “ungrounded allegations” regarding the freezing of lawsuit assets.
Related: Coinbase information ungraded sparks calls to scrap KYC
Another MEXC user, Pablo Ruiz, said implicit $2 cardinal worthy of the Tether (USDT) stablecoin was frozen successful April owed to a “risk control” protocol without anterior notice, explanation, oregon an accidental to cooperate.
Ruiz said helium was met with automated-looking copy-paste responses, with 1 enactment stating: “Due to hazard power activation, your relationship reappraisal volition instrumentality 365 days. Contact america again connected 04/17/2026.”
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