mexc

On-chain detective ZachXBT stated that the $16 billion in illegal transactions involving the cryptocurrency exchange MEXC, as pointed out by the U.S. Financial Crimes Enforcement Network (FinCEN), may be overstated. He noted that MEXC's past anti-money laundering and customer identification policies have been relatively lax, but he hopes to see relevant data, the proportion of suspected illegal transaction amounts to MEXC's total trading volume, and comparisons with other exchanges.ZachXBT also questioned why some offshore exchanges, which have almost no business in the U.S., quickly cut off channels for MEXC users to transfer assets, and who these measures are actually protecting.

Binance announced that after the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) listed MEXC as a primary money laundering concern, Binance will stop processing fund transfers involving MEXC and the associated entities listed in the announcement.Binance stated that requests to transfer funds from Binance wallets to the aforementioned entities will be denied, and deposits from these entities will be temporarily held for compliance review. During the review period, relevant accounts may be restricted, and Binance may take further action in accordance with the terms of use, including terminating services to the relevant users.

The CEO of the cryptocurrency trading platform MEXC, Vugar Usi, stated that after the Financial Crimes Enforcement Network (FinCEN) issued a restriction order against MEXC Global, the platform has established contact with FinCEN with the assistance of top law firms in the United States. FinCEN confirmed on Monday morning local time that it received MEXC's written request, and the platform is prepared to fully cooperate with the relevant investigation.Usi emphasized that MEXC is currently operating normally, with deposit, withdrawal, and trading functions all running smoothly. Previously, on November 6, FinCEN issued an order prohibiting U.S. regulated financial institutions from processing fund transfers involving MEXC Global, accusing it of handling at least $16 billion related to sanctions evasion and cybercrime. The restriction order has not yet been lifted.

According to OnchainLens monitoring, a giant whale has cumulatively withdrawn approximately 13.4 million USDT from MEXC to its multi-signature wallet, with multiple USDT transfers from the address labeled as MEXC 16 into the same wallet.

OKX founder Star tweeted, asking everyone to temporarily avoid transferring funds directly from MEXC to OKX.OKX is taking special measures in response to FinCEN, managing risks according to prudent standards similar to financial sanctions. According to its compliance and risk control measures, funds from related platforms may be frozen for review, and related accounts may require further investigation.Although FinCEN provided a 30-day transition period, OKX has chosen to significantly strengthen relevant risk control measures in advance rather than wait until the deadline to take action. Protecting user interests and maintaining the safety and integrity of the financial system has always been OKX's top priority.

After the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury issued a special measures order against MEXC Global, some community users reported that funds withdrawn from MEXC to centralized exchanges such as OKX, Binance, and Gate encountered risk reviews, delays in crediting, or entered refund review processes at the receiving platforms.In addition, Bitget Wallet officially stated that its bank card recharge service does not currently accept funds identified as coming from MEXC. At present, the relevant order from FinCEN has not yet officially taken effect. The aforementioned situations at the exchanges mainly come from community user feedback and are not a unified restriction announcement issued by the platforms; the specific scope of restrictions and the subsequent handling results of the related funds remain unclear.

In response to the recent orders from the Financial Crimes Enforcement Network (FinCEN) of the United States, MEXC's CEO Vugar Usi published an update stating that the platform's deposit and withdrawal operations have been running smoothly, and the team is assisting users in completing transactions. Although there has been an increase in withdrawal volume, the overall situation remains orderly. The KYT service provider Elliptic has confirmed that MEXC Global has been restored to the "exchange" category in its system, and the previous special risk classification has been removed.Vugar Usi stated that MEXC takes the concerns raised in the FinCEN order seriously and intends to engage in constructive contact with FinCEN. The company has also begun an independent review of its anti-money laundering and sanctions controls. The team will continue to focus on addressing the current situation and will share the latest information as developments occur. Previously, the U.S. Department of the Treasury's FinCEN ordered the disconnection of MEXC Global from the U.S. financial system, citing its involvement in transactions related to at least $16 billion in sanctions evasion.

According to Onchain Lens monitoring, a certain whale has resumed transferring tokens from MEXC to Binance after a year of dormancy.Recent transfers include 405,000 ASTER, valued at approximately $275,500; 227,270 FF, valued at approximately $19,700; and 1,470,000 OP, valued at approximately $149,500, involving a total asset value of approximately $444,700.

According to an official statement from MEXC, the platform has acknowledged the order issued by the Financial Crimes Enforcement Network (FinCEN) on November 6 and is currently assessing it with its legal and compliance team. MEXC stated that the platform is operating normally and user assets are secure.MEXC emphasized that it will take the relevant concerns seriously and plans to engage in constructive communication with FinCEN and other relevant regulatory authorities globally. An independent review of its anti-money laundering and sanctions control measures has also been initiated.Previous news reported that the U.S. Department of the Treasury has ordered U.S. financial institutions to prohibit the transfer of funds to and from MEXC Global, and this order will take effect 30 days after publication in the Federal Register.

According to the announcement from the on-chain fund platform Reserve, Reserve and its market-making partners will suspend providing liquidity for LCAP and CMC20 on MEXC and will soon withdraw the funds used for providing liquidity.Reserve stated that this move is a response to the order issued by the Financial Crimes Enforcement Network (FinCEN) against MEXC, and the liquidity of the two tokens on other exchanges and on-chain remains unaffected.Earlier, ChainCatcher reported that the U.S. Department of the Treasury has ordered U.S. financial institutions to cease sending and receiving funds to MEXC Global, and the order will take effect 30 days after being published in the Federal Register.

According to a notice from the U.S. Department of the Treasury, as part of the "Economic Exile Action," FinCEN issued an order against the cryptocurrency exchange MEXC Global under Section 9714(a) of the Anti-Money Laundering Act concerning Russia, prohibiting U.S. financial institutions from conducting any fund transfers with it, thereby cutting off its access to the U.S. financial system. The order will take effect 30 days after its publication in the Federal Register.The Treasury stated that between May 2021 and May 2026, MEXC Global facilitated at least $16 billion in transactions related to sanctions evasion and cybercrime involving Iran, North Korea, and Russia, including approximately $22 million in transactions related to the Central Bank of Iran and the Quds Force of the Islamic Revolutionary Guard Corps, as well as nearly $1.5 billion in transactions related to sanctions evasion concerning Russia.

According to the regional service restriction notice released by MEXC on October 21, the exchange is gradually exiting the Dutch market, requiring local users to transfer their assets by October 31, and plans to complete the exit by November 16.MEXC confirmed that it has not yet obtained EU MiCA authorization. Previously, due to providing cryptocurrency asset services in the Netherlands without permission, the exchange was listed on the European Securities and Markets Authority (ESMA) temporary list of non-compliant entities.Earlier, on October 20, MEXC announced the cessation of services to users in Russia and Belarus. Its user agreement also lists 13 countries and regions, including the United States, Canada, the United Kingdom, Singapore, Hong Kong, and mainland China, as prohibited service areas.

According to The Defiant, the cryptocurrency exchange MEXC announced that it will terminate services for users in Russia and Belarus. Affected customers will receive a separately set deadline to close positions and withdraw assets.MEXC stated that users who have not received the relevant notice can continue to use the exchange's services, but must comply with its terms.

According to the latest stock spot exchange rankings released by RootData, the top three exchanges are Binance, Gate, and MEXC.Among them, Binance has a score of 88.92, with a 24h public order book transaction volume of 209 million USD, a month-on-month decrease of 15.89%, and a market share of 45.18%; Gate has a score of 76.65, with a 24h public order book transaction volume of 61.3073 million USD, a month-on-month increase of 291.70%, and a market share of 13.22%; MEXC has a score of 76.07, with a 24h public order book transaction volume of 37.8527 million USD, a month-on-month increase of 3.43%, and a market share of 8.16%.

Qubic announced that between 23:42 yesterday and 01:26 today UTC, attackers exploited a vulnerability in the randomness of some wallet Seeds, accessing and transferring approximately 29.4 trillion QU from 1,404 Qubic wallets. The issue lies in the Seed generation mechanism, not in the Qubic protocol itself.The affected Seeds include those created in any browser on iPhone or iPad before October 18, 2026, those created in Mac Safari on the same date, and those created through the Qubic iOS App before July 2025. The network has been paused at tick 85,371,949, with 87.1% of the stolen funds remaining on the Qubic network and frozen, while the remaining 12.9% has been transferred to MEXC, and the related receiving accounts have also been frozen.Qubic stated that the Seed generation issue has been fixed in version 4.26.4, and subsequent handling will be determined by the Computor quorum according to network rules. A complete technical report will be released after the fund recovery plan is finalized.

According to South Korean media etoday, the Financial Intelligence Unit (FIU) of the Financial Services Commission of South Korea stated that the Korea Communications Commission has decided to implement domestic access blocking or termination measures against 27 virtual asset operators' websites, including KuCoin, MEXC, BingX, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, and BitMart, which have not reported in accordance with the law.This initiative expands the scope of restrictions on unreported operators from mobile application markets to internet web pages.

According to the latest stock spot exchange ranking released by RootData, Binance, Gate, and MEXC are in the top three.Binance ranks first, with a 24h public order book transaction volume of approximately 181 million USD and a market share of 39.82%. Gate ranks second, with a 24h transaction volume of approximately 61.568 million USD and a market share of 13.50%. MEXC ranks third, with a 24h transaction volume of approximately 38.5754 million USD and a market share of 8.46%.