MEXC apologizes to ‘White Whale’ trader over $3M freeze
Many crypto users online praised the decision but continued to criticize the exchange for freezing the funds in the first place.
About three months after a pseudonymous crypto trader reported that the MEXC exchange had frozen about $3 million worth of their holdings, a representative publicly apologized and released the funds.
In a Friday X post, MEXC Chief Strategy Officer Cecilia Hsueh said the exchange “f***-ed up” in handling a situation with a crypto user called the White Whale. In July, MEXC froze $3.1 million of the user’s funds, allegedly due to the exchange’s “risk control rules.”
“We apologize to [the White Whale], and his money is already released,” said Hsueh. “He can claim it at any time. I messed up in communicating with him. I got emotional, and I shouldn’t have.”