Crypto exchange MEXC recorded $126.03 million in net outflows over 24 hours as the US Financial Crimes Enforcement Network accused it of facilitating approximately $16.7 billion in illicit transactions between May 2021 and May 2026. The agency identified $1.5 billion linked to Russian sanctions-evasion networks, $1.87 billion involving Iranian entities and at least $1.99 billion associated with cybercriminals. Covered US financial institutions will be barred from sending or receiving funds involving MEXC 30 days after the order is published, with no scheduled expiration. MEXC says its services are operating normally and that customer assets have not been frozen or seized, but the restriction could disrupt its relationships with US banks and liquidity providers. The exchange nevertheless reported strong activity, with $1.069 trillion in trading volume in the third quarter of 2026 and an 8.91% market share.
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