Cryptocurrency traders have launched a $2 million social media pressure campaign against MEXC, claiming that the digital asset exchange has frozen more than $3 million in personal funds without any clear reason.
In July 2025, the Central Cryptocurrency Exchange (CEX) MEXC is said to have frozen $3.1 million worth of personal funds without any conditions.
In response, traders launched a $2 million social media pressure campaign against MEXC, claiming that the exchange requested a one-year review period before removing users' funds.
“I'm putting in a $2 million bounty for the grab (half you can charge),” wrote the white whale in X's post on Sunday.
“What reviews will take 12 months – without one update, documentation or request”
Many other traders have been affected by similar account freezes, the traders said, adding that the industry's most successful participants are “punished for victory.”
Source: The White whale
Related: US retirement plans could fuel Bitcoin rallies at $2 million despite the recession: financial redefinition
In response to the account suspension, the trader will launch a social media campaign, requesting that users be motivated on the base network with the “#FreeThewHiteWhale” tag, the X account of the tag MEXC or its Chief Operating Officer, and change the profile photo to the image above.
To complete these tasks, when MEXC releases frozen funds, the $1 million prize will be split equally into the first 20,000 NFT holders who will award each owner a $50 USDC (USDC).
Another $1 million worth of USDC will be allocated to “verified, carefully reviewed charities,” with traders pledging an on-chain receipt after the donation.
Traders claimed they had previously completed the Exchange's Know Your Customer (KYC) verification process.
Cointelegraph was unable to independently verify the frozen account. Cointelegraph approached MEXC to comment on this issue.
Related: Andrew Tate Shorts Kanye West's Yzy won a $700,000 loss on high fat
“White Whale” claims to surpass MEXC market makers before the $3 million freeze
The trader claimed that his funds were frozen because he was more profitable than the exchange's crypto market maker, company or individual, providing liquidity by placing consistent buy and sale orders to ensure prospective trading.
“My only possible attack? I was too useful,” the kana trader added.
“I consistently beat their external market makers – companies where they quietly cooperate and become counterparties for trading (this is a public record).”
Crypto Market Maker is one of the most misunderstood participants in the digital asset market, and despite the lack of evidence, he is often blamed by traders for deliberately manipulating the prices of cryptocurrency.
Still, Acheron Trading's research suggested that between April and June 2024, 78.5% of new crypto launches were carried out in a way that disrupts the discovery of fair prices and negatively affects both the end users and the project itself.
A breakdown of the pre-market list approach. Source: Acheron Trading
Furthermore, 69.9% of the major token lists were “parasitics,” meaning that market makers were exploiting pre-market conditions by creating artificial deficiencies and emotions around tokens.
https://www.youtube.com/watch?v=4n4pznl8syw
magazine: Solana Seeker Review: Is a $500 crypto phone worth it?
