- MEXC accused of freezing a $3.1M trader account.
- Unusual request for in-person meeting in Malaysia.
- Social backlash lacks major market shifts so far.
A crypto trader named ‘White Whale’ claims MEXC Exchange froze $3.1 million and requested an in-person meeting in Malaysia despite KYC completion, raising concerns.
This incident raises safety concerns related to crypto account freezes, prompting widespread industry discussions and potential implications for market trust and exchange policies.
A crypto trader, White Whale, claims MEXC froze their $3.1 million account. MEXC requested an in-person meeting in Malaysia, despite completed KYC checks.
Involved parties include the trader White Whale and MEXC exchange. No official leadership comments have been posted, and MEXC cites their standard risk policies as the reason for account freeze.
The account freeze sparked reactions within the crypto community, highlighting concerns over customer safety. MEXC’s proposition to meet in person is rare and draws scrutiny.
Financial implications include $3.1 million in frozen assets and reputational impact on MEXC. There’s an ongoing $2 million on-chain campaign by the trader, adding to the public discussion.
White Whale, Pseudonymous Trader, – “Crypto kidnappings are on the rise—why would someone with over $100M on-chain ever agree to fly to another country and enter the lion’s den of an organization he’s publicly protesting against?” source
The absence of official regulatory statements or detailed asset breakdowns leaves room for speculation on potential repercussions across the crypto sphere.
Industry observers note that in-person KYC is non-standard, raising questions about exchange practices. Potential outcomes could reshape regulatory discussions, although no immediate policy changes have emerged.
