Core Viewpoint - MEXC, a cryptocurrency exchange, faced backlash after improperly freezing $3 million in crypto assets belonging to a trader known as White Whale, leading to an apology from the company's Chief Strategy Officer and a commitment to improve transparency and customer service [1][2][3]. Group 1: Incident Overview - The controversy began when White Whale alleged that MEXC had blocked their access to crypto assets, which escalated after the trader shared transaction history to counter the exchange's claims of rule violations [4]. - Following the incident, other traders also reported similar issues with their accounts being frozen, raising concerns about MEXC's operational practices [6]. Group 2: Company Response - MEXC's Chief Strategy Officer, Cecilia Hsueh, admitted to the company's shortcomings and stated that changes were necessary due to the rapid growth of the exchange, which had outpaced its risk and operations management [2][3]. - The company plans to revise its risk and customer service policies and establish a "fast-track channel" for traders with unresolved issues [3]. Group 3: Public Relations and Transparency - Hsueh's public acknowledgment of the issues and commitment to improving communication with users reflects a shift towards greater transparency in response to the public outcry [2][6]. - The incident has highlighted the need for MEXC to address its ownership structure and operational transparency, as questioned by crypto investigator ZachXBT [6].