The US Treasury’s Financial Crimes Enforcement Network ordered US financial institutions to stop processing transfers involving MEXC Global. The Treasury alleges that the exchange facilitated at least $16 billion in transactions linked to sanctions evasion, cybercrime, and other illicit activity. Between May 2021 and May 2026, MEXC handled transactions involving sanctioned groups in Iran, Russia, and North Korea, including around $1.5 billion linked to Russian sanctions evasion. The order will take effect 30 days after its publication in the Federal Register. According to DefiLlama, the exchange held about $4.48 billion in total assets on Friday, while MEXC had not responded to Cointelegraph by publication.
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