Overview
- The White Whale confirmed receipt of roughly $3.1 million after MEXC unfroze his account and issued a public apology.
- Cecilia Hsueh, MEXC’s chief strategy officer, acknowledged mishandling the case and said a fast‑track channel will address unresolved account issues.
- On‑chain scrutiny and community pressure, including posts by investigator ZachXBT about opaque ownership, coincided with heightened user withdrawals.
- Data providers reported stress signals, with CryptoQuant tracking daily Bitcoin withdrawals jumping from about 40 to over 1,200 and CoinGecko noting a drop in trading volume.
- User complaints about other frozen accounts persist, while MEXC has rejected bankruptcy speculation and stated that all user assets are fully backed.