MEXC Apologizes and Returns $3 Million to Crypto Influencer
- MEXC froze the $3 million account of pseudonymous crypto influencer The White Whale in July.
- The exchange accused him of non-manual trading, violating terms of service, but later retracted these claims.
- On Friday, MEXC apologized and released the funds back to The White Whale.
- Bitcoin withdrawals on MEXC spiked from an average of 40 to over 1,200 daily since mid-July.
- Users report ongoing issues with fund withdrawals and indefinite freezes on their accounts.
MEXC has faced criticism for freezing accounts without clear communication or resolution processes in place, as highlighted by the recent incident involving The White Whale’s $3 million account freeze. This case has brought attention to the exchange’s growing pains as it scales operations, with many users experiencing similar issues.
The situation underscores the challenges centralized exchanges face in maintaining user trust while managing rapid growth and operational complexities. Source
