Ah, the world of crypto, where everything is strange and a little bit absurd. Here we have a trader known only as the “White Whale” (because, of course, if you’re dealing in millions, you need a majestic name). The Whale’s predicament? MEXC, the exchange, has decided to lock up a cool $3.1 million of his funds, and the only way to unlock it-wait for it-is to hop on a plane and fly to Malaysia. Yes, folks, you read that right. In person. Apparently, the mere idea of verifying identity online is too modern for them. A bit old-school, isn’t it?
White Whale, perhaps realizing the irony of it all, shared screenshots on X (formerly known as Twitter, though who knows what it’s called next week) showing MEXC offering to meet with high-level leaders in Malaysia and suggesting possible “business deals” as part of the process. Business deals? This is starting to sound like a bad thriller plot. Does anyone else hear the theme from The Godfather in the background?
Oh yeah – this is crypto. You fellow degens love receipts. You go you.
– The White Whale (@TheWhiteWhaleHL) August 25, 2025
However, the Whale wasn’t having it. He called it a “pressure tactic” and, unsurprisingly, found the idea of traveling abroad to meet with an exchange he has publicly criticized to be not only foolish but downright unsafe. “Crypto kidnappings are on the rise,” he declared, pointing out that someone with over $100 million tied up in crypto might not be so eager to walk into what could be a trap. A lion’s den, if you will. And let’s face it, no one goes to Malaysia for fun just to have their funds freed. So, can we blame him?
MEXC Defends Risk Management Policies
In a bold defense, MEXC declared that their risk management policies are ironclad and that they don’t freeze assets willy-nilly. Oh no, there are very valid reasons for freezing funds! Price manipulation, wash trading, self-trading, front-running, fraudulent activities-these are all good reasons to lock up a fortune, right? Still, let’s be honest, it’s all a bit hazy, like a foggy morning in St. Petersburg.
The Whale, not one to miss a detail, pointed out that he had already completed all the necessary Know Your Customer (KYC) requirements-face verification, phone number, home address-yet there was no mention in MEXC’s Terms of Service about needing to meet in person. Maybe the fine print includes something like “Flights to Malaysia are mandatory for account recovery.” Who knows?
So what did the Whale do? He launched a social media campaign, naturally, dropping $2 million to get the word out. Yes, folks, it’s now a cause. The battle for $3.1 million has turned into a marketing event, and the Whale is rallying the troops. How? By creating a free NFT on the Base network, tagging MEXC or its COO on X with “#FreeTheWhiteWhale.” Talk about modern-day activism.
But wait, there’s more! If the Whale gets his $3.1 million back, the first 20,000 people who join the cause by owning an NFT will split a $1 million USDC reward. A beautiful new chapter in the age of cryptocurrency, where financial freedom is just an NFT away. But, of course, the Whale isn’t alone in his struggles. Back in April, Pablo Ruiz also had his $2 million in Tether (USDT) frozen by MEXC, and they sent him an automated reply saying his account would be reviewed for… a whole year. Talk about keeping things in the family.
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2025-08-26 18:25