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The white whale withdraws from MEXC: focus on user rights violations!
On November 9, 2025, the White Whale withdraws its advisory offer for MEXC, criticizing user fund seizures and a lack of transparency.
The white whale withdraws from MEXC: focus on user rights violations!
The prominent crypto influencer and advisor known as The White Whale withdrew his willingness to support MEXC as an unpaid advisor on November 9, 2025. According to reports from crypto.news The main reason for this withdrawal is the platform's ongoing seizures of user funds.
The White Whale also raised concerns about MEXC's transparency practices, which he described as misleading. He is particularly critical of the published “Proof of Reserves”, which have no value without appropriate liability checks. This reasoning highlights the need for an independent review of liabilities in order to truly assess the platform's financial position.
Criticism of MEXC
The criticism of MEXC has received widespread response in the crypto community. The White Whale reported on the concerns of users who fear that the platform is crossing a dangerous line by disappearing transaction histories and arbitrarily confiscating funds. One affected user pointed out that in one specific case, MEXC confiscated $4,000, with the platform citing its risk control policies that allow funds to be withheld based on suspicion.
On social media, The White Whale released a detailed statement outlining its doubts about MEXC's sincerity in reforming its policies. He had previously requested a mutual non-disclosure agreement (NDA) from MEXC, but rejected their “non-disparagement” clause, citing instead the need to protect users’ interests.
Demand for responsibility
The White Whale is calling on MEXC to immediately stop all seizures of user funds. If MEXC engages in illegal activities, he demands, this should be reported to law enforcement authorities immediately. This reflects a growing distrust of the trading platform and raises questions about accountability in the crypto sector.
The developments surrounding MEXC and The White Whale's reactions shed light on the tense conditions and challenges that exist in the crypto market when it comes to user rights and transparent business practices.