The US Treasury ordered MEXC Global to lose access to the American financial system, accusing the platform of facilitating at least $16 billion in illicit transactions. The Financial Crimes Enforcement Network (FinCEN) linked the alleged activity to Iranian, Russian and North Korean networks, as well as cybercrime, ransomware, scams and darknet markets. The order, issued on November 6 under Operation Economic Outcast, prohibits US financial institutions from transferring funds to or from MEXC 30 days after its publication in the Federal Register. It is neither a worldwide ban on trading through MEXC nor an automatic freeze of all customer assets. The Treasury said MEXC processed more than $1 billion in daily transactions as of September 2026 and held approximately $5 billion in reserves, while nearly $1.5 billion in transactions were linked to Russian sanctions-evasion networks.
Source: Read the original article
