Cryptocurrency exchange MEXC has publicly apologized to an institutional trader known as ‘White Whale’ after freezing approximately $3 million in assets, citing operational miscommunication. The exchange acknowledged the incident stemmed from internal procedural errors during a routine compliance review, emphasizing their commitment to user asset protection.
In an official statement, MEXC representatives expressed regret for the temporary fund restriction and confirmed full restoration of access to the trader’s account. The platform reiterated its dedication to maintaining transparent operations while balancing regulatory compliance requirements with user experience.
The resolution follows significant community scrutiny across social media platforms and crypto forums. While many market participants welcomed the exchange’s accountability measures, substantial criticism remains regarding the initial decision to freeze substantial trader assets without immediate explanation. Industry observers note the incident highlights ongoing tensions between exchange security protocols and trader autonomy in digital asset markets.
Market analysts suggest such cases underscore the importance of clear communication channels between exchanges and high-volume traders, particularly regarding compliance procedures. The cryptocurrency community continues monitoring how major platforms handle similar situations as regulatory frameworks evolve globally.
