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About three months after a pseudonymous crypto dealer mentioned MEXC froze roughly $3M in his account, the alternate 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 mentioned the corporate “f***-ed up” in the best way it dealt with the dispute involving a dealer who goes by the identify 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 preventing behind the scenes to get MEXC to…
— Cecilia Hsueh (@cecilia_hsueh) October 31, 2025
The alternate froze about $3.1M in July, citing its inner “danger management guidelines.”
That transfer pushed White Whale to launch a $2M social media marketing campaign in opposition to MEXC in August.
He later mentioned the marketing campaign price range grew to $2.5M after claiming the alternate requested him to fly to Malaysia to resolve the difficulty and have the funds returned.
The White Whale replied to Hsueh’s put up, saying the apology “didn’t specify what they had been apologizing for.”
He mentioned it could have helped if MEXC had clearly addressed earlier public claims suggesting he was “a prison” resulting from AML considerations, or a “scammer” based mostly 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 did not 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 did not 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 mentioned the “work just isn’t but executed,” arguing that many others are nonetheless dealing with related points. He plans to assist recuperate these funds as nicely.
The dealer additionally mentioned 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 state of affairs like this,” wrote Reddit consumer 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 as we speak, 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 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.
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