Crypto trader says MEXC asked them to fly to Malaysia to unfreeze $3.1M
A pseudonymous crypto trader who says $3.1 million of their funds were frozen on the MEXC exchange claims the platform offered an in‑person meeting in Malaysia to resolve the issue — an offer the trader has declined.
The trader, known online as “White Whale,” shared screenshots showing what they say was an "exclusive invitation" from MEXC’s global head of customer service to travel to Malaysia for an "in‑depth communication with the leadership team" about the frozen assets.
Those screenshots also suggest MEXC proposed potential partnership opportunities and "trading perks" as part of the outreach. The trader rejected the proposal, saying the request felt coercive and expressing safety concerns about traveling to a foreign country while publicly protesting the exchange.
"Crypto kidnappings are on the rise — why would someone with over $100M on‑chain ever agree to fly to another country and enter the lion’s den of an organization he's publicly protesting against?" the trader wrote.
A MEXC spokesperson responded by saying the company "strictly adheres to risk management policies and does not freeze assets without valid reasons," adding that MEXC can take measures in response to price manipulation, wash trading, self‑trading, front‑running, fraudulent trading and false quoting. The spokesperson did not directly address the claim that the exchange invited the trader to Malaysia.
The trader said they had completed other KYC checks — including face verification, phone number and home address — and noted that MEXC’s terms of service do not mention any requirement for in‑person KYC.
In an attempt to pressure MEXC to release the funds, the trader launched a social media campaign that involves minting a free NFT on the Base network and tagging MEXC or the exchange COO with the hashtag #FreeTheWhiteWhale. The campaign said a $1 million USDC bounty would be split among the first 20,000 NFT holders if MEXC releases the frozen funds.
This is not the first time users have complained about frozen assets on MEXC. In a separate case, a user named Pablo Ruiz said over $2 million in USDT was frozen in April under a "risk control" protocol, and that customer support provided automated, copy‑paste responses. One automated reply reportedly told him the account review would take 365 days and directed him to contact support again on 04/17/2026.
The episode highlights growing tensions between crypto exchanges’ risk‑control measures and users who say they are locked out of significant sums. As of now, the dispute between the trader and MEXC remains unresolved.
