No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, July 9, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Cryptocurrency

MEXC Apologizes to ‘White Whale’ Trader over $3M Freeze

by TheAdviserMagazine
8 months ago
in Cryptocurrency
Reading Time: 2 mins read
A A
MEXC Apologizes to ‘White Whale’ Trader over M Freeze
Share on FacebookShare on TwitterShare on LInkedIn


About three months after a pseudonymous crypto trader reported that the MEXC exchange had frozen about $3 million worth of their holdings, a representative publicly apologized and released the funds.

In a Friday X post, MEXC Chief Strategy Officer Cecilia Hsueh said the exchange “f***-ed up” in handling a situation with a crypto user called the White Whale. In July, MEXC froze $3.1 million of the user’s funds, allegedly due to the exchange’s “risk control rules.”

“We apologize to [the White Whale], and his money is already released,” said Hsueh. “He can claim it at any time. I messed up in communicating with him. I got emotional, and I shouldn’t have.”

Source: Cecilia Hsueh

The move from the centralized exchange prompted the White Whale to launch a $2 million social media campaign targeting MEXC in August. He later said he had increased funding for the venture to $2.5 million after reporting that MEXC had requested he fly to Malaysia to resolve the issue and release the funds.

Related: South Korea ramps up crypto seizures, will target cold wallets

Many users still blame the exchange for the situation

“[W]hile appreciated, it [the apology] didn’t specify what they were apologizing for,” said the White Whale in response to Hsueh’s post. “Implying I was a criminal (with their public AML claims in the beginning) or a scammer (with the most recent accusations after AML was publicly debunked) would have been nice.”

The crypto trader said the “work is not yet done,” claiming that there were hundreds of other cases similar to his that he intended to pursue in order to recover funds. He pledged to “distribute 100%” of the released $3 million to 20,000 supporters behind his social media campaign and nonprofit organizations.

“Most regular users wouldn’t stand a chance in a situation like this,” said Reddit user Effective-Impact8054 in response to the resolution. “So yeah, it’s great that the White Whale finally got paid, but it doesn’t change the fact that MEXC froze a legit trader’s funds for months and only fixed it once the internet got involved.”

According to data from Nansen, the price of MEXC’s token (MX) dropped about 3.5% following Hsueh’s post, from $2.30 to $2.22 at the time of publication.

Magazine: Review: The Devil Takes Bitcoin, a wild history of Mt. Gox and Silk Road



Source link

Tags: apologizesfreezeMEXCTraderWhalewhite
ShareTweetShare
Previous Post

Judges order Trump administration to use emergency reserves for SNAP payments during the shutdown

Next Post

FACO: Advisors highlight shifting industry concerns

Related Posts

edit post
North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23%

North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23%

by TheAdviserMagazine
July 9, 2026
0

Key TakeawaysNorth Carolina’s signed budget taxes prediction markets at 6% of net trading fee revenue, effective January 1, 2027.The state...

edit post
Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure

Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure

by TheAdviserMagazine
July 9, 2026
0

Crypto wallet provider Phantom and the Hyperliquid Policy Center have urged the US Commodity Futures Trading Commission (CFTC) to exempt...

edit post
BREAKING: Wells Fargo Discloses Huge Crypto Holdings in Bitcoin, ETH, SOL, MSTR, BMNR

BREAKING: Wells Fargo Discloses Huge Crypto Holdings in Bitcoin, ETH, SOL, MSTR, BMNR

by TheAdviserMagazine
July 9, 2026
0

Wall Street giant Wells Fargo revealed massive crypto holdings via exchange-traded funds (ETFs) and stocks. The banks revealed exposure to...

edit post
Sam Altman’s Worldcoin cuts WLD unlocks by 43% but 4.9B tokens still need to prove demand

Sam Altman’s Worldcoin cuts WLD unlocks by 43% but 4.9B tokens still need to prove demand

by TheAdviserMagazine
July 9, 2026
0

Worldcoin said earlier this year that the WLD unlock rate will drop by 43% on July 24 under existing schedules.It...

edit post
Kraken Wins  Million Arbitration as Arjun Sethi Calls for Clear Crypto Rules

Kraken Wins $22 Million Arbitration as Arjun Sethi Calls for Clear Crypto Rules

by TheAdviserMagazine
July 9, 2026
0

Key TakeawaysPayward won a $22M award and asked Delaware court to enter judgment against Mazars USA.Kraken says Mazars’ exit reflected...

edit post
Fed May Buy Equity ETFs To Support US Stocks, Analyst Says

Fed May Buy Equity ETFs To Support US Stocks, Analyst Says

by TheAdviserMagazine
July 8, 2026
0

Crypto markets could benefit from increased liquidity if the US central bank steps in to support the $75 trillion equity...

Next Post
edit post
FACO: Advisors highlight shifting industry concerns

FACO: Advisors highlight shifting industry concerns

edit post
12 Big Financial Dates in November 2025 — Including the Next Fed Vote

12 Big Financial Dates in November 2025 — Including the Next Fed Vote

  • Trending
  • Comments
  • Latest
edit post
Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

June 22, 2026
edit post
New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

June 20, 2026
edit post
5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

June 18, 2026
edit post
Retail giant exits U.S. fashion after multi-million-dollar scandal

Retail giant exits U.S. fashion after multi-million-dollar scandal

July 1, 2026
edit post
Bristlecone pines growing in the White Mountains of California germinated before the Great Pyramid was built, and the oldest one alive today, nicknamed Methuselah, has been quietly adding rings for 4,855 years in soil so poor almost nothing else survives beside it

Bristlecone pines growing in the White Mountains of California germinated before the Great Pyramid was built, and the oldest one alive today, nicknamed Methuselah, has been quietly adding rings for 4,855 years in soil so poor almost nothing else survives beside it

July 8, 2026
edit post
Same Portfolio. Same Retirement. A 10-Mile Move Costs One Couple ,000 A Year

Same Portfolio. Same Retirement. A 10-Mile Move Costs One Couple $10,000 A Year

June 27, 2026
edit post
WD-40 outlines FY 2026 reported net sales of 5M-0M while shifting homecare brands to “held for use” (NASDAQ:WDFC)

WD-40 outlines FY 2026 reported net sales of $675M-$690M while shifting homecare brands to “held for use” (NASDAQ:WDFC)

0
edit post
A Glut of Inventory is on the Way—How Should Investors Prepare?

A Glut of Inventory is on the Way—How Should Investors Prepare?

0
edit post
California community college settles with professor who sued over DEI policy

California community college settles with professor who sued over DEI policy

0
edit post
How To Protect Your Trading Account From Lawsuits & Creditors |

How To Protect Your Trading Account From Lawsuits & Creditors |

0
edit post
Insurance Shock Is Eating Cash Flow Away—This Surprising Market is Facing the Brunt of It

Insurance Shock Is Eating Cash Flow Away—This Surprising Market is Facing the Brunt of It

0
edit post
Asia’s founders are decamping to the U.S. as the region suffers a protracted venture funding slump

Asia’s founders are decamping to the U.S. as the region suffers a protracted venture funding slump

0
edit post
WD-40 outlines FY 2026 reported net sales of 5M-0M while shifting homecare brands to “held for use” (NASDAQ:WDFC)

WD-40 outlines FY 2026 reported net sales of $675M-$690M while shifting homecare brands to “held for use” (NASDAQ:WDFC)

July 9, 2026
edit post
North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23%

North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23%

July 9, 2026
edit post
How to Freeze Your Credit for Free After 60—and Why Every Retiree Should Do It

How to Freeze Your Credit for Free After 60—and Why Every Retiree Should Do It

July 9, 2026
edit post
Asia’s founders are decamping to the U.S. as the region suffers a protracted venture funding slump

Asia’s founders are decamping to the U.S. as the region suffers a protracted venture funding slump

July 9, 2026
edit post
Educational Development Releases Q1 2027 Financial Results

Educational Development Releases Q1 2027 Financial Results

July 9, 2026
edit post
Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure

Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure

July 9, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • WD-40 outlines FY 2026 reported net sales of $675M-$690M while shifting homecare brands to “held for use” (NASDAQ:WDFC)
  • North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23%
  • How to Freeze Your Credit for Free After 60—and Why Every Retiree Should Do It
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.