A cryptocurrency dealer upsized his multimillion-dollar social media strain marketing campaign in opposition to MEXC after claiming that the digital asset alternate requested an in-person assembly to unfreeze the consumer’s $3 million value of private funds.
In July 2025, centralized cryptocurrency alternate (CEX) MEXC allegedly froze $3.1 million value of private funds with none phrases of service violations, in keeping with pseudonymous crypto dealer the White Whale.
On Sunday, the dealer launched a $2 million social media strain marketing campaign in opposition to the alternate, aiming to extend consideration on the matter, after claiming that the alternate had requested a one-year assessment interval earlier than unfreezing the consumer’s funds, Cointelegraph reported on Monday.
On Tuesday, the dealer introduced growing the “bounty” in opposition to MEXC to $2.5 million, allocating an extra $250,000 for the group of customers who take part in his social media marketing campaign, which incorporates minting a free non-fungible token (NFT) on the Base community, tagging MEXC or its chief working officer’s X account with the “#FreeTheWhiteWhale” tag.
One other $250,000 will likely be donated to verified charities, wrote the White Whale in a Tuesday X put up, including:
“I wish to be sure these video games cease.”
“We have to remind them: The minnows have gotten sharks – and sure, even whales. We’re not your prey anymore,” added the dealer.
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When initiating the preliminary $2 million social media marketing campaign, the dealer alleged that his account was issued a 12-month restriction for no clear guideline violations. He claimed that his account was extra worthwhile than the alternate’s exterior market makers.
Nonetheless, account restrictions “are imposed strictly as a result of they triggered our threat management guidelines, not as a result of profitability,” a spokesperson for MEXC instructed Cointelegraph, including the alternate’s 12-month assessment interval applies “solely to accounts concerned in coordinated violations, high-risk accounts, or compliance-related dangers, and doesn’t have an effect on all customers topic to threat management measures.”
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MEXC can’t observe their very own rulebook: White Whale
The pseudonymous dealer determined to extend the funds shortly after he claimed that MEXC requested he fly to Malaysia to show his id in individual to have his funds launched.
This falls exterior of the norm of cryptocurrency exchanges, which generally ask for proof of handle or different id paperwork which can be submitted on-line throughout Know Your Buyer (KYC) verification.
“I’m not a canine to return when summoned – not for any amount of cash. And I don’t have to,” wrote the dealer within the Tuesday X put up, including:
“As a result of they’ll’t even observe their very own rulebook, which makes no point out of in-person KYC necessities.”
Different crypto traders have additionally claimed struggling related account closures.
On April 17, crypto dealer Pablo Ruiz had his account frozen as a result of a “imprecise threat management protocol, with out prior discover, rationalization, or any alternative to cooperate.”
“Since then, almost 3 months have handed, and my funds — totaling $2,082,614 USDT — stay absolutely inaccessible,” wrote Ruiz in a July 13 X put up, including that his account was additionally subjected to a assessment interval of one year, set to finish in April 2026.
The dealer shared screenshots of an electronic mail stating the chance management course of was accomplished, “but assist insists the assessment is ongoing, revealing an INTERNAL CONTRADICTION and a whole lack of transparency,” he mentioned.
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