About a day after public outrage over alleged business practices, MEXC has begun something of a full-fledged reset, one initiated by the same critics who nearly destroyed it.
White Whale, the anonymous account that helped expose MEXC’s frozen funds crisis, is now stepping in to help the exchange reform, not as a paid contractor, but as an unpaid advisor.
The incident occurred after MEXC executive Cecilia Hsueh publicly apologized to White Whale for the mismanagement of her account, which led to X user Mystral freezing millions of dollars in user funds and a thread accusing MEXC of having sexual relations with each other.
Cecilia and White Whale had an hour-long video call backstage, but what happened next was even more unexpected. White Whale offered to support the exchange’s turnaround efforts, even though it helped lead the campaign that damaged its credibility.
“My offer…was sincere,” Whitewhale shared on X. “If you really want to fix something that’s broken, I’m here to help.” He offered to join the MEXC effort for free because of his experience building and managing platforms. “A better MEXC will only improve cryptocurrencies overall,” he added.
Cecilia publicly accepted the offer, saying, “I would be happy to have you as an advisor.” “We are truly grateful for the push you have given us, which has been the catalyst for the transformation of MEXC.”
She also acknowledged that the two sides had “successful ups and downs,” but said both sides now share the same goals.
Executives respond to fallout from sex rumors by launching fund recovery channel
Cecilia directly responded to the viral thread’s orgy video, which allegedly involved MEXC executives, saying, “People enjoy making up sexual rumors and subjugating women. It’s pathetic.”
White Whale publicly supported her, saying, “She is not the woman in the video.” He criticized the user who sent the leaked video, saying, “What’s right is right and what’s wrong is wrong…the truth still matters.” The defense attorney was praised by Cecilia, who said, “Thank you for speaking up and honestly telling the truth.”
Meanwhile, MEXC also admitted that the “most frustration” was with MEXC’s internal risk management system, and launched a new recovery route for frozen funds. “If your account is frozen, we have opened two fast-track channels to streamline the unfreezing process,” she wrote, linking support director Derrick Yeo’s Twitter and Telegram.
The announcement received more than 433,000 views, and another update came 17 hours later, saying, “Users who provided the required information have been unfrozen en masse.” She asked for patience and clarified that Telegram support is overloaded and Twitter DM is the preferred channel from now on.
Max Lee incident causes friction with Mexican leadership
One of the major flashpoints is the situation of trader Maxuel (Max) Lee, who posted screenshots showing more than $3.3 million in USDT locked in his account for 20 days after making five failed withdrawals between October 11 and 13.
Cecilia disputed this claim, claiming that Max had not responded to her previous requests for UID verification. “No such account was found in which this amount was frozen,” she wrote. “Our CS team and I have asked him to provide his UID, but so far we haven’t heard back. If we’re wrong and you really have this problem, please feel free to DM me.” She also added that “spreading rumors won’t help.”
Max’s post originally read, “At first I truly believed it was a bug or system error. But now I’ve been told there is an ‘abnormal gain’ in my account.” There is no evidence. It’s just frozen forever. ”
Previously, Cecilia claimed:- “In the last 17 hours, we have unfrozen users in batches who provided the required information. Our support and risk teams are working tirelessly. Thank you for your patience.”
