Overview
- MEXC Chief Strategy Officer Cecilia Hsueh issued a public apology, confirmed the funds were released, and said the exchange will add a fast‑track channel and tighten risk controls and communications.
- The trader’s account had been frozen since July over alleged bot use, a claim he denied after providing evidence of manual trading, and he rejected a requested public confession.
- On‑chain investigator ZachXBT questioned the exchange’s ownership and internal references to a figure called “Tony,” which catalyzed mass withdrawals and online pressure.
- Market data showed stress on the platform, with Bitcoin withdrawals jumping from roughly 40 per day to more than 1,200 in mid‑July and a drop of over 15% in 24‑hour trading volume during the flare‑up.
- Other users continue to report long freezes with scant explanation, and even Hsueh acknowledged that the trader’s visibility helped secure a resolution, while the trader says he will airdrop the recovered assets to his community and nonprofits.