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BREAKING NEWS

MEXC Apologizes After Freezing $3M of ‘White Whale’ Trader’s Funds 🐋

Recently, a high-profile dispute between MEXC and the pseudonymous crypto trader known as the White Whale has finally been resolved. MEXC froze approximately $3 million of the trader’s assets citing internal risk controls. After months of tension and a high-profile social media campaign, MEXC issued a public apology and released the funds.

Cecilia Hsueh, MEXC’s Chief Strategy Officer, admitted that the company mishandled communication:

> “He can claim it at any time. I messed up in communicating with him. I got emotional, and I shouldn’t have.”

During the freeze, the White Whale revealed that MEXC even requested him to travel to Malaysia to facilitate resolution—a move that highlighted the unequal power dynamics between exchanges and traders. Despite receiving his funds, he criticized the vague apology and previous accusations implying wrongdoing.

The incident also impacted MEXC’s native token, $MX, which dropped around 3.5% from $2.30 to $2.22 following the apology. This shows how operational controversies can quickly affect market sentiment in crypto.

This case underscores broader concerns in the crypto space: clear communication, transparency, and user protection are essential, especially for centralized exchanges handling large assets. As regulators increase scrutiny worldwide, cases like this remind exchanges that trust is just as valuable as liquidity.

#CryptoNews #MEXC #WhiteWhale #Transparency #CryptoTrading #BinanceSquare

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