OKX Warns Users Against Direct MEXC-to-OKX Transfers After FinCEN Order

OKX founder and CEO Star Xu warned users Saturday against direct transfers from MEXC Global to OKX, one day after the U.S. Treasury issued an order restricting covered financial institutions from handling funds involving the exchange. The Financial Crimes Enforcement Network (FinCEN) order issued Nov. 6 says MEXC facilitated the movement of $16.7 billion in funds connected to Russian illicit finance and other illicit activity, including sanctions evasion and cybercrime, between May 2021 and May 2026. The figure is FinCEN’s assessment of fund flows, not customer losses. Xu said funds associated with affected platforms could be frozen and related accounts could face further investigation. His warning did not say all MEXC transfers would be rejected.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.