A crypto whale who has $3.1 million in funds frozen on crypto alternate MEXC claims he was advised to fly to Malaysia to show his identification in individual to have his funds launched shortly.
In response to screenshots shared by the pseudonymous crypto dealer “White Whale” MEXC’s international head of customer support provided him an “unique invitation” to Malaysia to have an “in-depth communication with the management group” in regards to the frozen property.
The reported transfer can be outdoors the norm for crypto exchanges. Know Your Buyer options sometimes contain proof of handle, verification of supply of funds, identification, and different paperwork that may be despatched on-line.
Screenshots of emails and Telegram chats shared by the dealer additionally counsel that MEXC tried to lure them with a possible partnership and “buying and selling perks,” however the crypto dealer rejected the supply, criticizing MEXC for utilizing coercive ways whereas flagging security considerations about flying to a overseas nation underneath the circumstances.
“Crypto kidnappings are on the rise – why would somebody with over $100M on-chain ever conform to fly to a different nation and enter the lion’s den of a company he is publicly protesting towards?”
MEXC says it doesn’t freeze property with out cause
A MEXC spokesperson advised Cointelegraph that it “strictly adheres to danger administration insurance policies and doesn’t freeze property with out legitimate causes.”
MEXC stated it might take measures in response to cost manipulation, wash buying and selling, self-trading, front-running, fraudulent buying and selling and false quoting.
The spokesperson didn’t handle the dealer’s claims of being provided to fly to Malaysia to resolve the scenario.
Crypto dealer has been pressuring MEXC to launch funds
The crypto whale added he has accomplished all different KYC checks, together with face verification, cellphone quantity, and residential handle, and famous that MEXC’s Phrases of Service makes no point out of in-person KYC.
Earlier on Monday, White Whale launched a $2 million social media strain marketing campaign towards MEXC in an try to make them hand the funds over.
The marketing campaign entails crypto merchants minting a free non-fungible token (NFT) on the Base community and tagging MEXC or its chief working officer’s X account with the “#FreeTheWhiteWhale” tag.
For finishing the duties, a $1 million USDC (USDC) bounty shall be cut up equally between the primary 20,000 NFT holders, offered that MEXC releases the frozen funds.
White Whale isn’t the primary MEXC person to complain
MEXC’s feedback to Cointelegraph had been just like the corporate’s assertion in March, in response to a sequence of “ungrounded allegations” concerning the freezing of buyer property.
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One other MEXC person, Pablo Ruiz, stated over $2 million price of the Tether (USDT) stablecoin was frozen in April as a consequence of a “danger management” protocol with out prior discover, clarification, or a chance to cooperate.
Ruiz stated he was met with automated-looking copy-paste responses, with one line stating: “Attributable to danger management activation, your account overview will take one year. Contact us once more on 04/17/2026.”
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