A pseudonymous crypto trader, known as White Whale, has initiated a public campaign against MEXC exchange following the freezing of over $3 million in his account. He asserts that his funds were frozen without explanation, despite completing KYC procedures and having no history of violating platform terms. White Whale claims this is linked to his significant trading profits which may have triggered a crackdown by MEXC. The trader has challenged this claim, arguing that he consistently outperformed the exchange’s market-making partners, potentially leading to account restrictions. To pressure MEXC into releasing his funds, White Whale is launching a $2 million campaign through public action and incentives. He’s urging supporters to mint a free NFT on Base, update their profiles with campaign imagery, and tag MEXC executives using the hashtag #FreeTheWhiteWhale. He has pledged to distribute $1 million in USDC among the first 20,000 participants if his funds are released, and an additional $1 million to charities. MEXC defends its actions by stating that account restrictions were triggered by risk-control mechanisms and not retaliatory measures for trading profits. While they deny any connection to profitability, the incident has reignited a debate in crypto about market makers’ influence on order books. White Whale’s claim adds fuel to this ongoing discussion. The episode highlights the power centralized exchanges wield over customer assets, prompting questions about how traders can fight back against them.