Binance on the evening of November 10thOfficial It was announced that the U.S. Department of the Treasury's Financial Crimes Enforcement Agency (FinCEN) has identified the cryptocurrency exchange MEXC as an institution with "major money laundering concerns." Binance will strengthen compliance measures from now on. Users cannot transfer, receive, or conduct other transactions through Binance and MEXC, and withdrawal applications sent to MEXC addresses will be rejected.

FinCEN Published November 6Order, indicating that MEXC handled US$16.7 billion in funds related to Russian illegal finance, sanctions evasion and cybercrime between May 2021 and May 2026, prohibiting U.S. financial institutions from interacting with MEXC, and the order will take effect 30 days after it is published in the Federal Register (Related reports).

Binance: Transactions involving MEXC will be reviewed again, and accounts may be temporarily restricted

Binance’s announcement covers MEXC, MEXC Global, and their affiliates and related entities. Transactions involving these entities, directly or indirectly, are subject to further scrutiny.

During the review period, relevant funds and accounts may be temporarily restricted. Binance also reminds that this type of transaction may violate Binance’s terms of use. If you have any questions, you should ask through the official customer service channel.

OKX takes the lead: funds transferred from MEXC may be frozen

OKX has tightened before Binance. OKX founder Xu Mingxing announced on November 8 X onIn response to a user, the other party stated that the USDT transferred from his MEXC account to OKX was marked as a "potential high-risk address" and was under risk review.

Xu Mingxing asked users not to transfer money directly from MEXC to OKX. He said that OKX views FinCEN's special measures with a level of prudence similar to sanctions. Funds related to the affected platform may be frozen and related accounts may be further investigated.

He also said that although FinCEN gave a 30-day transition period, OKX has significantly strengthened its controls and will not wait until the deadline is up.

MEXC: Operations are normal and an independent review has been initiated

MEXC follows FinCEN order announcement Statement on X, the platform operates normally and user assets are safe. We will communicate with FinCEN and local regulatory authorities, and have launched an independent review of our own anti-money laundering and sanctions controls.

According to the current statements of Binance and OKX, funds transferred directly from MEXC may be temporarily frozen for review when transferred to these two exchanges; Binance further refuses all withdrawals sent to MEXC.

this article Binance follows up and blocks MEXC transfers, OKX has first frozen MEXC transfer funds first appeared in Chain News ABMedia。