MEXC Global is facing criticism after requesting the famous trader “The White Whale” to fly to Malaysia for an in-person verification to unlock over 3.1 million USD that has been frozen. This has sparked controversy as the trader has completed many KYC steps such as live video, address verification, and phone number verification. MEXC also promised a “VIP experience,” but White Whale declined due to security concerns and asserted that the terms of service do not require in-person KYC.
The incident sparked a wave of protests on social media with the hashtag #FreeTheWhiteWhale, as many users reported similar situations: frozen accounts and seized assets without any transparent process. Some previous cases have shown that MEXC even canceled profitable transactions and extended the review period up to 365 days.
So far, MEXC has not refunded the money and lacks a clear legal basis for its request.
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