A cryptocurrency trader, known as the White Whale, has intensified a social media pressure campaign against the MEXC exchange after revealing that MEXC has frozen $3.1 million of his personal funds without any prior violations of terms of service. In response to MEXC's request for a one-year review period before unfreezing the funds, the trader increased the bounty for social media participants to $2.5 million. This includes additional funds for users minting a free non-fungible token (NFT) on the Base network and tagging MEXC with #FreeTheWhiteWhale. The trader criticized the need for an in-person KYC meeting to release funds, asserting it contradicts MEXC’s stated policies. Other traders have reported similar treatment, with accounts frozen due to vague risk control protocols. MEXC has defended its actions, stating restrictions are based on risk controls, not account profitability.

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