Trader Increases Pressure on MEXC After Fund Freeze and KYC Request
- A trader, known as the White Whale, claims MEXC froze $3.1 million in personal funds without violations.
- The trader initiated a $2 million social media campaign to draw attention to the issue and later increased it to $2.5 million.
- MEXC reportedly requested an in-person meeting in Malaysia for identity verification, which is atypical for exchanges during KYC processes.
- Another trader, Pablo Ruiz, reported his account was frozen with over $2 million inaccessible due to vague risk control protocols.
- MEXC stated that restrictions are based on risk control rules and not profitability of accounts.
The situation highlights ongoing concerns regarding user fund access and transparency within cryptocurrency exchanges like MEXC, especially when account restrictions are imposed without clear communication or justification.
The White Whale’s campaign underscores the frustrations of traders facing similar issues, as seen with Ruiz’s locked funds totaling over $2 million. (Source)
