In July 2025, one of the world's largest cryptocurrency exchanges, MEXC, froze $3.1 million of funds belonging to an anonymous trader going by the alias "White Whale," citing a violation of their terms of service. By October 2025, this incident had escalated into a major PR crisis, exposing significant flaws in the exchange's operational transparency and user trust mechanisms. This crisis served as a stark reminder that centralized cryptocurrency platforms are extremely vulnerable and urgently require industry-wide reforms in risk management.
危机展开：一系列失误的时间线
知名交易员“白鲸”声称，墨西哥城交易所（MEXC）因其在同一秒内下了两笔订单而对其进行不公平的针对性处理——该交易所将此行为解读为自动交易。
CryptoNewsLand 报道资金在未事先通知的情况下被冻结，引发了社交媒体的轩然大波。到了10月，链上调查员ZachXBT进一步扩大了事件的影响，迫使墨西哥城（MEXC）首席战略官Cecilia Hsueh发表公开道歉声明。Hsueh承认交易所“搞砸了”，并承认在沟通中存在情绪化的失误。 CryptoTimes报道虽然资金最终到位，但损失已经造成： 比特币据报道，墨西哥货币交易所（MEXC）的提款量激增，仅24小时内就有超过55亿美元流出该平台。 CoinRise报告.墨西哥城交易所（MEXC）的原生代币MX在道歉声明发布后下跌3.5%，至2.22美元。
科伊诺塔格报道这反映了投资者的疑虑。分析师将此次事件与FTX倒闭事件相提并论，指出中心化交易所（CEX）在信任迅速瓦解时仍然容易发生流动性危机——CoinRise的报道也涵盖了这一主题。