A cryptocurrency trader upsized his multimillion-dollar social media pressure campaign against MEXC after claiming that the digital asset exchange requested an in-person meeting to unfreeze the user’s $3 million worth of personal funds.
In July 2025, centralized cryptocurrency exchange (CEX) MEXC allegedly froze $3.1 million worth of personal funds without any terms of service violations, according to pseudonymous crypto trader the White Whale.
On Sunday, the trader launched a $2 million social media pressure campaign against the exchange, aiming to increase attention on the matter, after claiming that the exchange had requested a one-year review period before unfreezing the user’s funds, Cointelegraph reported on Monday.
On Tuesday, the trader announced increasing the “bounty” against MEXC to $2.5 million, allocating an additional $250,000 for the group of users who participate in his social media campaign, which includes minting a free non-fungible token (NFT) on the Base network, tagging MEXC or its chief operating officer’s X account with the “#FreeTheWhiteWhale” tag.
Another $250,000 will be donated to verified charities, wrote the White Whale in a Tuesday X post, adding:
“I want to make sure these games stop.”
“We need to remind them: The minnows are becoming sharks – and yes, even whales. We’re not your prey anymore,” added the trader.
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When initiating the initial $2 million social media campaign, the trader alleged that his account was issued a 12-month restriction for no clear guideline violations. He claimed that his account was more profitable than the exchange’s external market makers.
Still, account restrictions “are imposed strictly because they triggered our risk control rules, not due to profitability,” a spokesperson for MEXC told Cointelegraph, adding the exchange’s 12-month review period applies “exclusively to accounts involved in coordinated violations, high-risk accounts, or compliance-related risks, and does not affect all users subject to risk control measures.”
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MEXC can’t follow their own rulebook: White Whale
The pseudonymous trader decided to increase the funds shortly after he claimed that MEXC requested he fly to Malaysia to prove his identity in person to have his funds released.
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