About three months after a pseudonymous crypto dealer stated MEXC froze roughly $3M in his account, the trade issued a public apology and confirmed that the cash was launched.
In an X submit shared on Friday, MEXC Chief Technique Officer Cecilia Hsueh stated the corporate “f***-ed up” in the way in which 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 obtained 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 trade froze about $3.1M in July, citing its inner “threat management guidelines.”
That transfer pushed White Whale to launch a $2M social media marketing campaign towards MEXC in August.
He later stated the marketing campaign finances grew to $2.5M after claiming the trade requested him to fly to Malaysia to resolve the difficulty and have the funds returned.
The White Whale replied to Hsueh’s submit, saying the apology “didn’t specify what they had been apologizing for.”
He stated it might have helped if MEXC had clearly addressed earlier public claims suggesting he was “a prison” attributable to AML considerations, or a “scammer” primarily based on later accusations that got here even after these AML claims had 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 come back.
I did see the general public apology, and whereas appreciated, it didn't specify what they had been apologizing for. Implying I used to be a… pic.twitter.com/5qKLLPPXSd
— The White Whale (@TheWhiteWhaleV2) October 31, 2025
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How Are Customers Responding to MEXC’s Fund Freeze Controversy?
He stated the “work shouldn’t be but executed,” arguing that many others are nonetheless dealing with comparable points. He plans to assist get better these funds as properly.
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 consumer Efficient-Impact8054.
“So yeah, it’s nice that the White Whale lastly obtained paid, but it surely doesn’t change the truth that MEXC froze a legit dealer’s funds for months and solely mounted it as soon as the web obtained concerned.”
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As of right now, MX Token is buying and selling 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 continues 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.
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The submit MEXC Slammed In Frozen Crypto Drama: Exec Speaks Out appeared first on 99Bitcoins.
