Oh, what a tangled web we weave when first we practice to deceive! A certain crypto trader, known only by his stage name “the White Whale,” has launched a $2 million social media pressure campaign against MEXC, alleging that the digital asset exchange has frozen over $3 million of his personal funds for no apparent reason. How quaint!
In the sultry month of July 2025, it seems our beloved centralized cryptocurrency exchange (CEX) MEXC decided to take a rather cold plunge into the murky waters of financial ambiguity. According to the pseudonymous crypto trader, the White Whale, MEXC froze a whopping $3.1 million worth of his personal funds, all without a hint of terms of service violations. How terribly convenient!
Not one to be outdone, the trader is now orchestrating a $2 million social media pressure campaign against MEXC, claiming that the exchange has demanded a one-year review period before considering the unfreezing of his funds. “I’m putting a $2M bounty up for grabs (half can be claimed by YOU),” the White Whale wrote in a Sunday X post, adding with a touch of dramatic flair:
“What kind of review takes 12 months-without a single update, document, or charge?”
And it’s not just the White Whale who’s feeling the chill; numerous other traders are reportedly affected by similar account freezes. The trader laments that the industry’s most successful participants are “punished for winning.” How delightfully ironic!
To combat this injustice, the trader has launched a social media campaign, urging users to mint a free non-fungible token (NFT) on the Base network, tag MEXC or its chief operating officer’s X account with the “#FreeTheWhiteWhale” hashtag, and change their profile pictures to the aforementioned image. For those who complete these tasks, $1 million of the bounty will be equally divided among the first 20,000 NFT holders, awarding each a modest $50 USDC (USDC), provided MEXC releases the frozen funds. Another $1 million worth of USDC will be allocated to “verified, carefully vetted charities,” with the trader promising onchain receipts after the donations. How generous!
“I consistently beat their external market makers-the firms they quietly partner with to be the counterparty to trades (this is public record).”
Crypto market makers, often the scapegoats of the digital asset market, are frequently accused by traders of deliberately manipulating cryptocurrency prices, despite a lack of concrete evidence. However, research from Acheron Trading suggests that 78.5% of new crypto launches between April and June 2024 were conducted in a manner that disrupted fair price discovery, negatively impacting both end-users and the projects themselves. How scandalous!
Furthermore, 69.9% of primary token listings were deemed “Parasitic,” meaning that market makers were exploiting premarket conditions by creating artificial scarcity and sentiment around the token. Oh, the humanity!
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2025-08-25 12:40