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Reading: Trader claims MEXC asked them to fly to Malaysia to unfreeze $3.1M
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ChatGPT Image 26 серп. 2025 р. 10 07 03

Home - Crypto News - Trader claims MEXC asked them to fly to Malaysia to unfreeze $3.1M

Crypto News

Trader claims MEXC asked them to fly to Malaysia to unfreeze $3.1M

Dmitrij Vorona
Last updated: 26.08.2025 07:07
By Dmitrij Vorona
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A crypto whale who claims to have $3.1 million frozen on crypto exchange MEXC says he was told to fly to Malaysia to verify his identity in person if he wanted his assets released quickly — an offer he rejected, citing safety concerns.

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Source: The White Whale

The pseudonymous trader, known online as “White Whale,” shared screenshots of emails and Telegram chats that appeared to show MEXC’s global head of customer service offering him an “exclusive invitation” to Malaysia for “in-depth communication with the leadership team.” The exchange also allegedly dangled the possibility of a partnership and trading perks as part of the discussions.

“Crypto kidnappings are on the rise — why would someone with over $100M on-chain ever agree to fly to another country and enter the lion’s den of an organization he’s publicly protesting against?” the trader wrote, criticizing the exchange for what he described as coercive tactics.

The reported invitation is unusual in the crypto industry, where Know Your Customer (KYC) checks are typically completed online through identity documents, proof of address, and source-of-funds information. The trader said he had already passed face verification, provided his address and phone number, and argued that MEXC’s Terms of Service make no mention of in-person KYC requirements.

In response to questions, a MEXC spokesperson told Cointelegraph the exchange “strictly adheres to risk management policies and does not freeze assets without valid reasons,” pointing to measures against price manipulation, wash trading, front-running and other prohibited activity. The company did not comment on the Malaysia trip claim.

White Whale has since launched a $2 million social campaign to pressure MEXC, minting free NFTs on the Base network tied to the hashtag #FreeTheWhiteWhale. Participants who tag MEXC or its COO on X could share in a $1 million USDC bounty if the funds are released.

The dispute comes amid a string of complaints about frozen funds on MEXC. In April, another trader, Pablo Ruiz, said more than $2 million in Tether was frozen under “risk control” protocols, with the only explanation being an automated response telling him to wait until April 2026.

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