MEXC Global has required a high-profile crypto trader known as “The White Whale” to undergo in-person verification in Malaysia to release more than $3.1 million in frozen assets. Despite completing extensive remote KYC procedures, the trader declined citing personal security concerns and the lack of legal basis in MEXC’s terms of service. The exchange froze the account under vague risk control measures in July 2025, igniting community backlash and raising questions about MEXC’s regulatory compliance and account management practices. Similar cases of fund freezes and ambiguous reviews have been reported by other users, exposing broader issues within MEXC’s operational conduct and customer relations.
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MEXC Global's Controversial Demand for In-Person Verification Sparks Outcry Over Frozen $3.1 Million Crypto Funds
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