Crypto dealer ups MEXC ‘bounty’ to $2.5M after in-person KYC request

Uncover insights within the Bitcoin area. This article dives into: “Crypto trader ups MEXC ‘bounty’ to $2.5M after in-person KYC request”.

A cryptocurrency dealer upsized his multimillion-dollar social media stress marketing campaign in opposition to MEXC after claiming that the digital asset alternate requested an in-person assembly to unfreeze the person’s $3 million value of private funds.

In July 2025, centralized cryptocurrency alternate (CEX) MEXC allegedly froze $3.1 million value of private funds with none phrases of service violations, in line with pseudonymous crypto dealer the White Whale.

On Sunday, the dealer launched a $2 million social media stress marketing campaign in opposition to the alternate, aiming to extend consideration on the matter, after claiming that the alternate had requested a one-year evaluation interval earlier than unfreezing the person’s funds, Cointelegraph reported on Monday.

On Tuesday, the dealer introduced rising the “bounty” in opposition to MEXC to $2.5 million, allocating an extra $250,000 for the group of customers who take part in his social media marketing campaign, which incorporates minting a free non-fungible token (NFT) on the Base community, tagging MEXC or its chief working officer’s X account with the “#FreeTheWhiteWhale” tag.

Source: The White Whale

Another $250,000 will likely be donated to verified charities, wrote the White Whale in a Tuesday X put up, including:

“I want to make sure these games stop.”

“We need to remind them: The minnows are becoming sharks – and yes, even whales. We’re not your prey anymore,” added the dealer.

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When initiating the preliminary $2 million social media marketing campaign, the dealer alleged that his account was issued a 12-month restriction for no clear guideline violations. He claimed that his account was extra worthwhile than the alternate’s exterior market makers.

Still, account restrictions “are imposed strictly because they triggered our risk control rules, not due to profitability,” a spokesperson for MEXC instructed Cointelegraph, including the alternate’s 12-month evaluation interval applies “exclusively to accounts involved in coordinated violations, high-risk accounts, or compliance-related risks, and does not affect all users subject to risk control measures.”

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MEXC can’t observe their very own rulebook: White Whale

The pseudonymous dealer determined to extend the funds shortly after he claimed that MEXC requested he fly to Malaysia to show his identification in particular person to have his funds launched.

This falls outdoors of the norm of cryptocurrency exchanges, which generally ask for proof of tackle or different identification paperwork which are submitted on-line throughout Know Your Customer (KYC) verification.

Source: The White Whale

“I’m not a dog to come when summoned – not for any amount of money. And I don’t need to,” wrote the dealer within the Tuesday X put up, including:

“Because they can’t even follow their own rulebook, which makes no mention of in-person KYC requirements.”

Other crypto buyers have additionally claimed struggling related account closures.

On April 17, crypto dealer Pablo Ruiz had his account frozen attributable to a “vague risk control protocol, without prior notice, explanation, or any opportunity to cooperate.”

“Since then, nearly 3 months have passed, and my funds — totaling $2,082,614 USDT — remain fully inaccessible,” wrote Ruiz in a July 13 X put up, including that his account was additionally subjected to a evaluation interval of three hundred and sixty five days, set to finish in April 2026.

Source: Pablo Ruiz

The dealer shared screenshots of an electronic mail stating the chance management course of was accomplished, “yet support insists the review is ongoing, revealing an INTERNAL CONTRADICTION and a complete lack of transparency,” he stated.

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