Imagine swimming in crypto waters only to find your funds frozen like a popsicle, and your exchange ghosting you like a bad date.
That nightmare was real for the trader known as “White Whale,” who had over $3 million held hostage by MEXC since July.
But MEXC’s Chief Strategy Officer, Cecilia Hsueh, just dropped a public apology and unlocked the cold vault. Happy ending?
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Being good at trading
The story started after MEXC froze White Whale’s account under risk control protocols, sparking months of heated back-and-forth and a demand for a face-to-face ID check in Malaysia.
Talk about a wild twist, especially since no such condition was in the fine print.
White Whale went public in August, accusing MEXC of turning him into an unintended crypto criminal just for consistently turning profits without sneaky bots or special API privileges. His crime? Being good at trading.
Transparency
Hsueh, clearly with a sheepish grin, admitted on X that MEXC’s growth outpaced their own safety nets big time, risk, operations, and PR teams have not kept up, she said.
We fucked up.
We apologize to @TheWhiteWhaleV2 , and his money is already released. He can claim it at any time.
I messed up in communicating with him. I got emotional, and I shouldn’t have.
Since I joined MEXC 2 months ago I’ve been fighting behind the scenes to get MEXC to…
— Cecilia Hsueh (@cecilia_hsueh) October 31, 2025
She took responsibility for the mess, promising leadership tweaks to boost transparency and consistency. Finally, a rare full-on mea culpa from a major exchange.
White Whale confirmed his funds had been released but gave the apology a side-eye.
“Would’ve been nice if they said exactly what they were apologizing for, implying I was a criminal or scammer would have been good to clear up.”
We Did It – Public Outcry Forces MEXC To Do The Right Thing
I didn't have a draft statement for this occasion, as I honestly never expected it to come.
I did see the public apology, and while appreciated, it didn't specify what they were apologizing for. Implying I was a… pic.twitter.com/5qKLLPPXSd
— The White Whale (@TheWhiteWhaleV2) October 31, 2025
Public pressure
Showing they’ve got hearts as big as their wallets, White Whale shared he plans to donate the entire $3 million windfall.
Half goes back to early NFT supporters, the rest to verified charities, because hoarding wasn’t on the agenda. Soon, community voting and airdrop claims will give everyone a piece of the pie.
“It’s not fair that someone with followers be treated differently.”
Fair play. This case grabbed headlines worldwide and spotlighted centralized exchanges’ murky risk controls and sometimes opaque fund freezes.
MEXC’s apology signals a long-awaited, real shift, at least in communication, as public pressure reshapes how these giants handle your digital dough.
White Whale summed it up best on X, saying the battle has been won, but the war is far from over.
„This is about fixing our own problems before governments do it for us.”
Editor’s Take
You don’t often see a crypto exchange say “sorry.” MEXC’s public apology feels like one of those rare, human moments in a world built on cold algorithms and risk controls.
Sure, the damage is done — $3 million frozen for months doesn’t just vanish from memory — but it’s a start.
This case reminds everyone that transparency isn’t optional when you’re holding billions in user funds.
And maybe, just maybe, it shows that the crypto industry is learning accountability the hard way — from its own users, not regulators.
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Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: November 2, 2025 • 🕓 Last updated: November 2, 2025
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