A cryptocurrency investor has initiated a substantial $2 million online campaign directed at MEXC, a centralized crypto exchange, alleging that the platform inexplicably blocked access to over $3 million of their assets. The individual, using the online name “The White Whale,” asserts this restriction began in July of 2025, with no evidence of violating MEXC’s user agreement.
According to statements from the trader, MEXC requested a year-long review without offering any status updates, related documents, or formally presenting charges since the initial account freeze.
Investor Alleges Exchange Froze Account After Profitable Trades
Details shared on social media platform X (formerly Twitter) indicate the investor believes MEXC froze roughly $3.1 million because they consistently outperformed the exchange’s designated market makers. This investor claims to have achieved returns exceeding those of the firms responsible for maintaining market liquidity by consistently creating buy and sell orders. These market makers play a crucial role in maintaining fluid trading activity on centralized exchanges.
The White Whale suggests the only possible infraction was being “excessively profitable,” implying the performance difference between their trading and the exchange’s partner firms triggered the account lock. They also mentioned completing MEXC’s standard identity verification, or Know Your Customer (KYC), before the account was restricted. CoinCentral was unable to independently verify the account details and has contacted MEXC seeking an official statement.
Social Media Drive Incentivizes Community Engagement
In response to the continued account blockage, The White Whale has launched a digital protest, activating a large-scale user mobilization effort. They have committed $2 million in USDC stablecoin as a reward, allocating half to participants and the other half to selected charitable organizations. The campaign invites users to claim a complimentary Non-Fungible Token (NFT) on the Base blockchain, tag either MEXC or its chief operating officer on X, and change their profile pictures to include a designated image related to the protest.
The plan is to distribute $1 million in USDC evenly among the first 20,000 NFT holders, awarding $50 to each individual, contingent upon MEXC releasing the frozen funds. The remaining $1 million will be donated to carefully screened and verified charities, with the investor guaranteeing transparent on-chain transaction records.
Other Traders Report Similar Account Freezes
The White Whale further stated that several other traders have reported similar account freezes by MEXC. The claim is that high-performing market participants are being unjustly penalized for their success. This assertion resonates with past findings from Acheron Trading, which indicated that 78.5% of newly launched crypto tokens between April and June of 2024 experienced issues that impacted fair market pricing.
That previous analysis showed how those specific market events could be detrimental to both end-users and the teams behind developing new projects.