The trader known as White Whale withdrew his offer to advise MEXC for free, accusing the exchange of operating with a “structural rot” that puts users’ funds at risk.
According to his statements on X, MEXC allegedly publishes fake proof of reserves, justifies arbitrary seizures, and blocks users from accessing their own records. White Whale claimed that despite his warnings, the company continues to confiscate funds based on mere suspicion, citing its Risk Control Guidelines as justification.
He also denounced that the exchange deletes transaction histories from affected accounts, preventing clients from proving their innocence. The trader had offered his advice after recovering $3 million previously withheld by MEXC but stated that everything within the platform “is smoke and mirrors.”.
Source: https://x.com/TheWhiteWhaleV2/status/1987205170069975256
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