Binance Suspends MEXC Transactions Amid FinCEN Designation as Money Laundering Concern

Binance has halted all transaction processing with MEXC and its affiliates following the U.S. Treasury Department’s designation of the exchange as a primary money laundering concern.

Withdrawals to MEXC will be rejected, and deposits from the exchange will be held pending compliance review, with accounts potentially subject to restrictions or removal.

The exchange has warned that funds sent to or received from MEXC, as well as transactions involving related entities such as MEXC Global Limited and MEXC Estonia OÜ, will no longer be accepted.

Effective immediately, users should not send funds to, receive funds from, or otherwise transact through Binance involving MEXC, MEXC Global, MEXC affiliates or related entities.

Binance tweeted on Tuesday

FinCEN Designation and Impact

The Treasury’s Financial Crimes Enforcement Network (FinCEN) officially named MEXC a primary money laundering concern last Friday, in connection with illicit Russian finance. The regulatory order, enacted under the Combating Russian Money Laundering Act, prohibits U.S. financial institutions from processing fund transfers involving the exchange.

FinCEN has alleged that MEXC processed at least $16 billion in suspicious transactions between May 2021 and May 2026, including roughly $1.5 billion linked to Russian sanctions evasion, and has described the exchange’s anti‑money laundering controls as severely deficient.

The designation takes effect 30 days after its publication in the Federal Register.

Other major exchanges have also responded. OKX has warned its users against transferring funds to MEXC, as reported by Finance Magnates.

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Binance is applying enhanced compliance measures following FinCEN’s designation of MEXC as a Primary Money Laundering Concern.

Effective immediately, users should not send funds to, receive funds from, or otherwise transact through Binance involving MEXC, MEXC Global, MEXC affiliates or related entities.

— Binance (@binance) November 10, 2026

Binance has also indicated that any request to send funds from a Binance account to MEXC will be declined, with 13 entities covered by the restriction, including MEXC Global Limited, MEXC Estonia OÜ and MEXC Singapore Pte Ltd. Deposits received from these entities will be temporarily withheld for compliance review, and users could face additional restrictions, including being offboarded from Binance.

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