MEXC sees $126 million outflows as US targets exchange over $16.7 billion in suspected illicit transactions

Crypto exchange MEXC saw $126 million in net outflows as US regulators moved to sever its access to the American financial system. The withdrawals coincided with a Nov. 6 enforcement action by the Treasury's Financial Crimes Enforcement Network (FinCEN), which accused the exchange of facilitating $16.7 billion in transactions linked to sanctions evasion, terrorist financing and cybercrime. Data from DeFiLlama showed $126.03 million in net outflows over a 24-hour period spanning the announcement, while the exchange retained approximately $4.353 billion in tracked assets. This represent net movements through monitored wallets and do not establish that all withdrawals occurred after the announcement or indicate whether the exchange has sufficient assets to meet its customer liabilities.

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