Traders Rally Against MEXC Over Fund Freezing
Cryptocurrency traders have launched a significant social media campaign, reportedly worth millions, targeting the MEXC digital asset exchange. Their grievance stemmed from claims that the exchange required a face-to-face meeting in order to facilitate the release of $3 million in frozen personal funds.
In July 2025, MEXC allegedly froze access to $3.1 million in user funds without providing any conditions for their release.
On Sunday, traders initiated a $2 million social media campaign aimed at drawing attention to their situation. They asserted that the exchange demanded a year-long review period before allowing users to withdraw their funds, according to reports.
The following Tuesday, the campaign’s budget escalated to $2.5 million, with an additional $250,000 pledged to support a group of users actively participating in the campaign.
Furthermore, another $250,000 was donated to a verified charity. In a related post, a trader expressed, “I want to make sure these games are stopped.”
“We need to remind them: minnows are becoming sharks—and yes, even whales. We’re not easy prey anymore,” the trader added, emphasizing their resolve.
When initiating his first $2 million social media effort, a trader asserted that his account faced a 12-month restriction, despite not violating any explicit rules. He claimed his trading performance surpassed that of the exchange’s external market creators.
However, a spokesperson for MEXC clarified that account restrictions are strictly enforced due to risk management protocols— not based on profitability. They noted that the 12-month review is reserved for high-risk accounts or those linked to compliance issues, and that all users do not influence risk control measures.
MEXC’s Rulebook Questioned by Traders
The anonymous trader chose to increase the funding for the campaign after MEXC requested that he travel to Malaysia, asserting that his identity must be verified to release his funds. This demand deviates from typical procedures for cryptocurrency exchanges, which usually involve submitting proof of identity and address during KYC verification processes.
In a message to fellow traders, he stated, “I’m not the dog that comes when I’m summoned—not for money, and I don’t have to,” adding that MEXC fails to adhere to its own regulations.
Other investors are reportedly facing similar issues with account closures. For instance, Pablo Ruiz had his account frozen on April 17 for allegedly unclear risk management reasons, without any prior notice. As of July 13, he mentioned that nearly three months had passed, and his funds, amounting to 2,082,614 USDT, remained entirely inaccessible.
Ruiz further noted that his account is also subject to a 365-day review, which isn’t expected to conclude until April 2026.
Traders revealed a screenshot of an email indicating that the risk control review was completed. However, support continued to assert that the review remained ongoing, which they described as revealing inconsistencies and a lack of transparency in the process.
