Binance Blocks MEXC Transfers After $16B Illicit Finance Allegations

Binance restricted dealings with MEXC after U.S. authorities alleged the exchange facilitated at least $16 billion in illicit transactions. The move followed a designation targeting MEXC’s access to the U.S. financial system. Binance said Nov. 10 that it was restricting transactions involving MEXC following the Financial Crimes Enforcement Network’s (FinCEN) designation of the exchange as a primary money laundering concern. Its immediate transaction restrictions covered MEXC, MEXC Global, affiliates, and related entities. The exchange advised users against sending, receiving, or otherwise transacting through Binance involving those businesses. Under its MEXC deposit restrictions , incoming funds from the listed businesses would be temporarily withheld for compliance review. Account holders could face further limitations, including removal from the platform.

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