MEXC apologizes to ‘White Whale’ trader over $3M freeze

Approximately three months after freezing $3.1 million of a pseudonymous trader known as the 'White Whale,' MEXC's Chief Strategy Officer, Cecilia Hsueh, publicly apologized, admitting the exchange "f***-ed up" in handling the situation and confirming the funds were released. The trader had launched a $2.5 million social media campaign against MEXC after the exchange initially froze the assets citing "risk control rules," and later allegedly requested the trader fly to Malaysia to resolve the issue. While the trader appreciated the apology and fund release, he criticized MEXC for not specifying what they were apologizing for, especially after making public AML claims that he claims were debunked. The trader plans to distribute the recovered $3 million to his supporters and nonprofits, noting that most regular users would not have succeeded against the exchange without public pressure. Following the apology, the price of MEXC's token (MX) dropped approximately 3.5%.

(Source：Cointelegraph)