🚨 EXPOSE: The Truth Behind MEXC’s “Proof of Reserves” 🚨 Let’s cut through the shiny marketing lingo. MEXC claims to have billions in reserves and “overcollateralized user assets.” But when you peel back the layers, it’s all just numbers they publish themselves - with zero third-party audits, no regulatory oversight, and no transparency into how those numbers are even calculated. Let’s break it down: “Proof” Without Proof MEXC’s so-called “Proof of Reserves” page invites you to compare two numbers: Assets held in on-chain wallets (which they choose and control) Total user liabilities (which only they can see) If assets are greater than liabilities, they call it a win. Sounds legit, right? Except…both numbers come from MEXC directly. There’s no independent auditor, no named accounting firm, no regulatory oversight, and no verification that: Those wallets even belong to MEXC All liabilities are truly accounted for The assets aren’t borrowed, pledged, or otherwise encumbered This is like a casino publishing its own “audit” showing the vault is full, and expecting you to clap for them. Merkle Trees = Fake Accountability To appear transparent, MEXC rolled out a Merkle Tree tool. Great, right? Wrong again. While this lets you confirm your own balance is included, it does nothing to confirm that: Everyone else’s balances are also included The total liabilities are real The reserves actually exist and are accessible Merkle Trees can help detect exclusion. But without an independent auditor, they’re just a technical magic trick that hides the bigger issue: no one is checking their books. Red Flags You Can’t Ignore: No Independent Audit Not Regulated Opaque Reserves User Funds Frozen Without Cause Ask anyone watching my campaign. I’ve been locked out of millions. MEXC demanded an in-person meeting and still refuses to release my funds. What does that say about “1:1 reserves” if you can’t access your own money? So Why Does This Matter? Because you might be next. If an exchange claims to be solvent but refuses a real audit, it’s already failed the test. FTX made similar claims - right up until the charade was too big to hide any longer. MEXC is asking you to trust a black box with a smile on it. That’s not proof. That’s marketing. We demand better. We demand transparency. We demand independent, verifiable audits - not self-published numbers on a screen. Until then, everything they post is just smoke and mirrors. 🫡 From the depths — The White Whale 🐋

Update: MEXC Attempts To Lure The White Whale To Meet In Person...For Potentially Sinister Reasons?? I received an email from MEXC (with my anti-phishing code and from their official domain). I triple-verified - it was authentic. The email claimed: “Our leadership team attaches great importance to cooperation with you and is very much looking forward to having a one-on-one communication with you to deeply understand your needs and expectations. To this end, we sincerely invite you to have in-depth communication with the leadership team.” They asked me to verify my TG ID. Once I did, I wasn’t met by a “leadership team.” Just one person: their Global Head of Customer Service - whose identity I confirmed through multiple channels including other MEXC employees. Then came the punchline: he insisted I travel to Malaysia to “complete KYC in person.” Let’s be clear. I’ve already done every form of KYC they’ve ever asked for: live video, address verification, phone number, multiple identity layers. Their own Terms of Service contain zero mention of any requirement for in-person KYC. Crypto kidnappings are on the rise - why would someone with over $100M on-chain ever agree to fly to another country and enter the lion’s den of an organization he's publicly protesting against? When I rejected the idea, his reply was telling: “But I understood that you have sought to expedite the unfreezing of your account.” Translation: If you want your funds, get on a plane. This is not compliance. This is coercion. What MEXC is attempting here isn’t “verification.” It’s intimidation dressed up as procedure. They are inventing roadblocks that don’t exist in their own rulebook, while dangling access to my rightful funds like ransom. If they can do this to me, they can do this to anyone. The question now is simple: How long will the industry turn a blind eye while exchanges resort to tactics that belong in crime thrillers, not capital markets? I know we’ve got their attention. Maybe we just haven’t been loud enough yet. I told him to come back to me when MEXC was ready to be serious. 🫡 From the depths — The White Whale 🐋

I Need Your Help - And I'm Putting a $2M Bounty Up For Grabs (half can be claimed by YOU) Let me start by saying - "I know, I was dumb" (more on that in the FAQs, but no need to comment how dumb I was - I just beat you to it) In July 2025, @MEXC_Official froze over $3 million of my funds. $3,158,572.32 to be precise. No warning. No explanation. No Terms of Service violation - because there was none. That money came from my hard-earned savings, and every dollar I earned on the platform came from clean, legitimate, skill-based trading. My only conceivable offense? I was too profitable. (in the long list of public replies to other traders who experienced the same thing I was able to find ONE instance where they accidentally admitted this as a potential cause). I consistently beat their external market makers - the firms they quietly partner with to be the counter-party to trades (this is public record). When the counter-party they need in order to stay in business consistently looses? Who's side do you think they will pick? So what did MEXC do? They retaliated. They froze my account. And now, they’ve told me the “review process” will take up to one full year. Let that sink in: No specific allegation No evidence of wrongdoing Just a vague “review” that conveniently lets them hold my money hostage indefinitely What kind of review takes 12 months - without a single update, document, or charge? You see I had already been through their most advanced KYC process possible and passed with flying colors. But this is bigger than me. It’s about every trader who’s ever been punished for winning, punished for exposing CEX dirty little secrets, or robbed by a centralized exchange hiding behind offshore protections in jurisdictions with limited legal recourse. We are not your exit liquidity. We are not your prey. We are the tide. And the tide is turning. #FreeTheWhiteWhale #MEXCFreeze