White Whale Secures $2.5M to Launch Social Media Assault Against MEXC Over Frozen Funds

White Whale deploys fresh capital to turn up the heat on uncooperative exchange.

The Funding Offensive

Just secured $2.5 million in funding—all aimed at mobilizing social media campaigns against MEXC. The exchange froze user assets, and White Whale isn't taking it lying down. This isn't just about recovering funds; it's a public shaming operation dressed as a liquidity rescue.

Pressure Tactics Unleashed

Community outrage gets weaponized. Expect coordinated Twitter storms, viral TikTok explanations, and Reddit raids targeting MEXC's reputation. The goal? Force the exchange to thaw those frozen wallets through sheer embarrassment. Because in crypto, bad PR moves faster than a blockchain confirmation.

Finance's Ironic Twist

Nothing says 'decentralized revolution' like needing to crowdfund $2.5 million to pressure a centralized exchange into doing the bare minimum. How very... efficient. Sometimes the most traditional finance solutions wear the shiniest crypto disguises.

TLDR

• The White Whale raises a $2.5M bounty after MEXC demands in-person KYC for fund release.

• MEXC froze $3.1M in funds, leading to a 12-month restriction and no clear violation.

• In-person KYC requests have raised concerns over transparency and fairness in crypto exchanges.

• Other traders, like Pablo Ruiz, report similar account restrictions, increasing skepticism about MEXC’s practices.

A cryptocurrency trader, known as the “White Whale,” has increased his social media pressure campaign to $2.5 million after claiming that MEXC, a prominent centralized exchange, requested an in-person Know Your Customer (KYC) verification. The trader alleges that MEXC froze $3.1 million worth of his personal funds in July 2025 without any clear violation of the platform’s terms of service.

The trader’s campaign is being conducted through social media and is designed to draw attention to MEXC’s actions. Initially, the trader launched a $2 million bounty to increase awareness about the issue. After MEXC allegedly asked him to fly to Malaysia for in-person KYC verification, the trader upped the bounty by $250,000, bringing the total to $2.5 million. This move has stirred the crypto community and raised questions about the legitimacy of MEXC’s actions.

MEXC Fund Freeze and In-Person KYC Request

In July 2025, the WHITE Whale’s MEXC account was allegedly frozen, locking up $3.1 million in personal funds. The trader claims that no terms of service violations had occurred, and he had not engaged in any activity that would justify the restriction.

To resolve the issue, MEXC allegedly required the trader to travel to Malaysia for an in-person KYC meeting, a request that the trader found unusual, as KYC verification is typically done online through document submission.

Bounty Increased to $2.5M: @TheWhiteWhaleHL vs @MEXC_Official – Grab Your Share Today!

Updates Below

Original Post:https://t.co/H1LDcGqYkQ
Day Two Post: https://t.co/kZrWDf1yUw

Effective immediately I am increasing the overall bounty to $2.5M.

Look – I never wanted to be…

— The White Whale (@TheWhiteWhaleHL) August 26, 2025

On his social media accounts, the White Whale voiced frustration with this requirement, pointing out that it contradicted the usual KYC process employed by cryptocurrency exchanges. He criticized MEXC for its lack of transparency and for failing to follow its own rules, as the exchange’s terms did not mention the need for in-person verification.

Rising Tensions and Other Allegations

The trader’s bounty campaign quickly garnered attention from the broader crypto community, but MEXC has yet to respond publicly to the allegations. In a statement, the exchange clarified that restrictions on accounts are based on risk control measures, which include monitoring for coordinated violations and compliance risks.

However, the White Whale and others argue that this explanation is vague and does not address the Core issue of arbitrary account restrictions.

The frustration surrounding MEXC’s handling of funds is not limited to the White Whale. In a separate incident, another trader, Pablo Ruiz, claimed that his account was frozen without prior notice, leading to an ongoing review period for over three months. Despite his account being cleared of any violations, the trader’s funds, totaling over $2 million, remain inaccessible. These accounts have added fuel to the growing skepticism about MEXC’s practices.

Community Reactions and Concerns About Transparency

The White Whale’s campaign and the stories of other traders like Pablo Ruiz have sparked mixed reactions across social media. Some traders expressed support for the White Whale’s efforts, believing that MEXC’s behavior reflects larger issues of transparency and fairness within the cryptocurrency industry.

Others, however, raised concerns about the increasing political and corporate influence on crypto markets, which could lead to the centralization of power and control in the hands of a few entities.

MEXC’s handling of these issues will likely impact its reputation in the crypto community. The incident has raised broader questions about how cryptocurrency exchanges should handle account restrictions and ensure fairness for all users. As more traders report similar issues, exchanges like MEXC may face increasing pressure to improve their practices and provide clearer guidelines for dealing with account freezes and KYC procedures.