A bizarre drama is unfolding in the crypto world as pseudonymous trader “White Whale” accuses exchange MEXC of freezing over $3 million in assets and demanding a face to face meeting in Malaysia to release the funds.

The trader, who revealed the saga on August 24, 2025, claims he is being “punished for winning” after making highly profitable trades. The allegations quickly went viral, sparking debates about transparency, security, and the lengths exchanges can go in KYC enforcement.

Major outlets amplified the story, cementing it as one of crypto’s strangest disputes of the year.