A crypto whale with $3.1 million frozen on MEXC was told to fly to Malaysia for identity verification. MEXC’s customer service offered an “exclusive invitation” for in-person communication, a move outside the norm for crypto exchanges. The trader rejected the offer, citing safety concerns and coercive tactics used by MEXC.

MEXC claims it freezes assets for reasons like price manipulation or fraudulent trading, not without valid reasons. The exchange did not address the offer to fly to Malaysia in response to the trader’s situation. The trader completed all other KYC checks but was pressured to fly to resolve the issue.

The trader launched a $2 million social media campaign against MEXC, involving minting NFTs and tagging MEXC with “#FreeTheWhiteWhale.” A $1 million USDC bounty will be split among the first 20,000 NFT holders if MEXC releases the frozen funds. This isn’t the first complaint against MEXC, with another user reporting $2 million in USDT frozen without notice or explanation.

MEXC’s response to complaints about frozen assets mirrors a statement made in March regarding similar allegations. Another user reported over $2 million in USDT frozen due to a “risk control” protocol, with automated responses delaying account review for a year. The issue highlights concerns about exchange practices and customer asset security.

Read more at Cointelegraph: MEXC Tells Trader To Meet In Malaysia To Do KYC, Recover $3.1 Million