Trader White Whale wins $3M dispute with MEXC, launches $WHITEWHALE token on Solana, reaching $50M+ market cap.
In July 2025, a trader known as “The White Whale” became the focus of global crypto attention after MEXC froze his account.
The account, which reportedly held over $3 million, was locked following accusations that he violated exchange terms by executing two trades within one second.
What followed was a public standoff, a campaign involving blockchain investigators, and the eventual launch of a meme token that crossed a $50 million market cap.
Account Freeze Sparks Dispute Between Trader and MEXC
The White Whale, an active high-leverage trader, was accused by MEXC of using automated bots to place trades.
The exchange cited that two orders were made in the same second, which they claimed was a breach of trading policies.
MEXC froze his account and demanded that he complete Know Your Customer (KYC) verification in person, in Malaysia.
The trader maintained that all trades were manual and denied any use of automation tools. He refused the in-person KYC, calling it unsafe and unnecessary.
In response, he launched a social media campaign, offering a $2.5 million bounty for anyone who could provide evidence of wrongdoing by MEXC.
Public Backlash Forces MEXC to Reverse Its Decision
The situation gained widespread attention after blockchain investigator ZachXBT publicly supported the trader’s claims.
As pressure increased on MEXC, users on social media platforms began sharing stories of other unresolved account issues on the platform.
The White Whale: From Frozen Funds to $50m Memecoin
In July 2025, The White Whale woke up to MEXC having frozen his account holding over $3 million.
MEXC claimed he violated terms by placing “two orders in the same second,” accusing him of using bots.
The White Whale proved… pic.twitter.com/ITkBF9rbvt
— Ethan (@0xEthan) December 28, 2025
On October 31, 2025, MEXC released a statement on its official channels.
The company admitted fault, stating, “We f**ked up,” and restored the trader’s access to his funds.
MEXC also pledged to review its user policies and improve transparency across its operations.
The White Whale was credited by many for bringing attention to user protection issues on centralized exchanges.
Meme Token Launch Drives New Wave of Trading Activity
Supporters of The White Whale created a token named $WHITEWHALE on the Solana network as a tribute.
Due to high interest and growing community engagement, the trader decided to take control of the project.
He locked over $100,000 in liquidity and introduced a system that rewarded users for long-term holding.
The token quickly gained momentum and reached a $50 million market cap. It continued to rise as more users joined the community and bought into the token.
Traders on various platforms began tracking its performance as it became one of the top-performing meme tokens on Solana during Q4 2025.
Related Reading: MEXC Responds to Insolvency Speculation Amid User Withdrawals
$WHITEWHALE Gains Market Support While Trader Stays Active
On December 4, multiple on-chain signals pointed to $WHITEWHALE’s rise, which later hit over 200x gains.
The trader missed entry due to one overlooked factor, but the pattern confirmed what many have noted tight supply control and strong community backing drive momentum.
➥ The Real Reason $WHITEWHALE Keeps Pumping and How to Stay Ahead Using Nansen
On Dec 4, I received multiple on-chain signals for $WHITEWHALE, which eventually turned into a 200x+ runner. I forgot to check one thing (see QRT below) and faded my entry, so yes, I feel a bit salty… https://t.co/QrgbSakN6q pic.twitter.com/rTfKNkSaja
— Cryptor ⚡️ (@cryptorinweb3) December 29, 2025
The team currently holds about 35% of the total supply.
As long as they and top holders continue accumulating, market strength may remain. A shift in their positions, however, could impact the token’s direction.
Using Nansen, users can track the top 100 holders and smart contract flows.
The team has also deposited 250M tokens into ORCA LP at a high price range, masking some treasury holdings as liquidity and reducing concentration warnings for casual observers.