MEXC Issues Formal Apology Following Unjustified $3 Million Account Freeze of Prominent Trader ‘The White Whale’

Cryptocurrency exchange MEXC has publicly apologized after erroneously freezing $3 million in assets belonging to the prominent trader known as ‘The White Whale.’ The incident, which drew significant attention across digital asset communities, prompted the exchange to acknowledge the wrongful action and release the funds. In an official statement, MEXC expressed regret for the operational error and emphasized its commitment to maintaining user trust and platform integrity. The exchange has since implemented additional verification protocols to prevent similar occurrences in the future. The White Whale, recognized for substantial trading activity across multiple digital asset platforms, confirmed the restoration of access to the frozen capital. This episode highlights the ongoing challenges exchanges face in balancing security measures with user asset accessibility, particularly for high-volume traders. Market observers note that such incidents underscore the importance of robust operational frameworks within cryptocurrency trading venues to safeguard user funds while maintaining efficient market operations.