About three months after a pseudonymous crypto dealer stated MEXC froze roughly $3M in his account, the change issued a public apology and confirmed that the cash was launched.
In an X put up shared on Friday, MEXC Chief Technique Officer Cecilia Hsueh stated the corporate “f***-ed up” in the best way it dealt with the dispute involving a dealer who goes by the title White Whale.
We fucked up.
We apologize to @TheWhiteWhaleV2 , and his cash is already launched. He can declare it at any time.
I tousled in speaking with him. I bought emotional, and I shouldn’t have.
Since I joined MEXC 2 months in the past I’ve been combating behind the scenes to get MEXC to…
— Cecilia Hsueh (@cecilia_hsueh) October 31, 2025
The change froze about $3.1M in July, citing its inside “threat management guidelines.”
That transfer pushed White Whale to launch a $2M social media marketing campaign in opposition to MEXC in August.
He later stated the marketing campaign funds grew to $2.5M after claiming the change requested him to fly to Malaysia to resolve the problem and have the funds returned.
The White Whale replied to Hsueh’s put up, saying the apology “didn’t specify what they have been apologizing for.”
He stated it could have helped if MEXC had clearly addressed earlier public claims suggesting he was “a felony” as a result of AML considerations, or a “scammer” primarily based on later accusations that got here even after these AML claims have been disproved.
We Did It – Public Outcry Forces MEXC To Do The Proper Factor
I didn't have a draft assertion for this event, as I truthfully by no means anticipated it to return.
I did see the general public apology, and whereas appreciated, it didn't specify what they have been apologizing for. Implying I used to be a… pic.twitter.com/5qKLLPPXSd
— The White Whale (@TheWhiteWhaleV2) October 31, 2025
DISCOVER: 15+ Upcoming Coinbase Listings to Watch in 2025
How Are Customers Responding to MEXC’s Fund Freeze Controversy?
He stated the “work is just not but accomplished,” arguing that many others are nonetheless going through comparable points. He plans to assist get well these funds as effectively.
The dealer additionally stated he’ll “distribute 100%” of the launched $3M to twenty,000 supporters who backed his marketing campaign, together with nonprofit organizations.
Many on-line reacted with frustration. “Most common customers wouldn’t stand an opportunity in a scenario like this,” wrote Reddit person Efficient-Impact8054.
“So yeah, it’s nice that the White Whale lastly bought paid, but it surely doesn’t change the truth that MEXC froze a legit dealer’s funds for months and solely fastened it as soon as the web bought concerned.”
As of immediately, MX Token is trading between $2.40 and $2.80. It’s listed at about $2.53, with a 24-hour buying and selling quantity of $22.7M.
The token is barely higher on the day, up about +1.4%.
Over an extended interval, MX remains to be far beneath its peak. Its all-time excessive was $5.85 on April 9, 2024. At present ranges, that’s roughly a 59% drop from its high.
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
The put up MEXC Slammed In Frozen Crypto Drama: Exec Speaks Out appeared first on 99Bitcoins.
