A cryptocurrency dealer upsized his multimillion-dollar social media strain marketing campaign in opposition to MEXC after claiming that the digital asset trade requested an in-person assembly to unfreeze the consumer’s $3 million price of private funds.
In July 2025, centralized cryptocurrency exchange (CEX) MEXC allegedly froze $3.1 million price of private funds with none phrases of service violations, based on pseudonymous crypto dealer the White Whale.
On Sunday, the trader launched a $2 million social media strain marketing campaign in opposition to the trade, aiming to extend consideration on the matter, after claiming that the trade had requested a one-year evaluate interval earlier than unfreezing the consumer’s funds, Cointelegraph reported on Monday.
On Tuesday, the dealer introduced rising the “bounty” in opposition to MEXC to $2.5 million, allocating an extra $250,000 for the group of customers who take part in his social media marketing campaign, which incorporates minting a free non-fungible token (NFT) on the Base community, tagging MEXC or its chief working officer’s X account with the “#FreeTheWhiteWhale” tag.
One other $250,000 will likely be donated to verified charities, wrote the White Whale in a Tuesday X post, including:
“I wish to be certain that these video games cease.”
“We have to remind them: The minnows have gotten sharks – and sure, even whales. We’re not your prey anymore,” added the dealer.
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When initiating the preliminary $2 million social media marketing campaign, the dealer alleged that his account was issued a 12-month restriction for no clear guideline violations. He claimed that his account was extra worthwhile than the trade’s exterior market makers.
Nonetheless, account restrictions “are imposed strictly as a result of they triggered our danger management guidelines, not attributable to profitability,” a spokesperson for MEXC informed Cointelegraph, including the trade’s 12-month evaluate interval applies “completely to accounts concerned in coordinated violations, high-risk accounts, or compliance-related dangers, and doesn’t have an effect on all customers topic to danger management measures.”
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MEXC can’t observe their very own rulebook: White Whale
The pseudonymous dealer determined to extend the funds shortly after he claimed that MEXC requested he fly to Malaysia to show his identification in particular person to have his funds launched.
This falls outdoors of the norm of cryptocurrency exchanges, which usually ask for proof of deal with or different identification paperwork which can be submitted on-line throughout Know Your Customer (KYC) verification.
“I’m not a canine to come back when summoned – not for any amount of cash. And I don’t have to,” wrote the dealer within the Tuesday X submit, including:
“As a result of they’ll’t even observe their very own rulebook, which makes no point out of in-person KYC necessities.”
Different crypto buyers have additionally claimed struggling related account closures.
On April 17, crypto dealer Pablo Ruiz had his account frozen attributable to a “obscure danger management protocol, with out prior discover, clarification, or any alternative to cooperate.”
“Since then, practically 3 months have handed, and my funds — totaling $2,082,614 USDT — stay totally inaccessible,” wrote Ruiz in a July 13 X post, including that his account was additionally subjected to a evaluate interval of twelve months, set to finish in April 2026.
The dealer shared screenshots of an electronic mail stating the chance management course of was accomplished, “but assist insists the evaluate is ongoing, revealing an INTERNAL CONTRADICTION and an entire lack of transparency,” he mentioned.
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