Crypto Drama: MEXC’s $3M Apology to White Whale – Will It End in a Whale of a Tale?

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Well, folks, gather ’round for a tale of high drama, big money, and an apology that could’ve been written on the back of a napkin. About three months ago, a trader known only as the White Whale reported that MEXC, a centralized crypto exchange, had frozen around $3 million of their funds. Fast forward to today, and-lo and behold-MEXC has finally said “Oops” and released the funds. But not without a little more flair than your average apology.

In a post on X (formerly Twitter, but we all know it’s just a way for people to vent), MEXC’s Chief Strategy Officer, Cecilia Hsueh, confessed that the exchange had, and I quote, “f*-ed up.” Yeah, that’s the exact wording, folks. In July, MEXC decided to freeze a cool $3.1 million of the White Whale’s funds, supposedly due to some “risk control rules” that, well, seemed more like a glitch in the matrix.

Now, to make matters even juicier, Hsueh admitted that the communication between her and the White Whale was less “professional” and more like a soap opera. “I got emotional, and I shouldn’t have,” she said. Ah, yes, because nothing says “We’re sorry” like a heartfelt meltdown. 🍿

Now, you’d think that this would be the end of it, right? Well, the White Whale wasn’t about to let things slide quietly into the night. In August, they decided to throw a tantrum of their own and launched a $2 million social media campaign to put MEXC on blast. And because why stop there, they bumped the budget to $2.5 million-because nothing says “Take me seriously” like extra zeros, am I right? This all happened after MEXC allegedly asked the White Whale to take a plane to Malaysia for a face-to-face chat. Who needs customer service when you’ve got international travel, right?✈️

Many users still blame the exchange for the situation

Of course, in true internet fashion, the White Whale didn’t just take the apology at face value. He’s not the type to go quietly into that good night. “While appreciated,” said the White Whale, “it [the apology] didn’t specify what they were apologizing for.” Well, isn’t that something? Sounds like they need a little refresher on “apologizing 101.” Imagine if I said, “Sorry, but not really, and for reasons I won’t explain.” 😬

As if the drama wasn’t thick enough, the White Whale isn’t backing down. He’s now on a mission to help out others in similar situations, saying he’s going to “distribute 100%” of the released $3 million to 20,000 loyal followers and nonprofit groups. Sounds like a whole new reality show waiting to happen, doesn’t it?

And of course, Reddit didn’t disappoint. A user by the name of Effective-Impact8054 had some choice words, too. “Most regular users wouldn’t stand a chance in a situation like this,” they said. Oh, how right they are. Regular folks don’t have $3 million frozen and a public campaign behind them. I mean, who doesn’t wish for that kind of luck? 🙄

In the end, MEXC’s token (MX) took a little tumble in the market, dropping 3.5% from $2.30 to $2.22. So, while the White Whale may have gotten his money back, it looks like the whole thing didn’t do much for MEXC’s reputation. In the crypto world, sometimes the apology is more costly than the problem itself. But hey, at least it wasn’t a total whale of a mess… or was it? 🐋

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2025-11-01 00:51