- Crypto trader The White Whale had $3 million frozen by crypto exchange MEXC.
- Despite the freeze, The White Whale continued leveraged trading and promised to share profits with the community if funds were unlocked.
- HyperLiquid liquidated $63 million of his assets after a disputed price feed from a data oracle on October 10.
- MEXC later unfroze the $3 million, enabling The White Whale to add liquidity to a memecoin related to his story.
- The true identity and sole ownership of The White Whale accounts remain unverifiable due to decentralized exchange dynamics.
A prominent crypto trader known as The White Whale had $3 million of his funds locked by the crypto exchange MEXC. Despite this freeze, he continued trading using leverage and publicly vowed to distribute any gains to the crypto community if his assets were released.
On October 10, HyperLiquid, a decentralized crypto platform, liquidated $63 million worth of his assets following a dispute arising from pricing provided by an external data oracle. After initial setbacks, MEXC agreed to unlock the $3 million in frozen funds, leading to public celebrations and renewed activity from the trader.
Following the release of these funds, The White Whale announced plans to use part of the newly accessible $3 million to support and add liquidity to one of several memecoins inspired by his story. He shared this decision via social media, emphasizing that the funds were designated “for the community.”
Due to the decentralized nature of exchanges like HyperLiquid and minimal identity checks, it is difficult to verify whether a single user exclusively controls the wallets involved. Multiple wallet ownership and coordinated trades can create misleading impressions of individual trading success.
The story of The White Whale has captured attention on crypto social media because of the large sums involved, his unusual approach to sharing profits, and the colorful, meme-based imagery he shares. His narrative echoes themes from Herman Melville’s 1851 novel Moby Dick, which also features a legendary whale.
Crypto traders often follow figures like The White Whale due to their notable leveraged bets and fluctuating financial results. Despite skepticism and the challenges of verification in decentralized systems, the narrative continues to engage the community.
For further information, see the MEXC release on frozen funds and The White Whale’s announcement on Twitter.
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