MEXC sees $126 million outflows as US targets exchange over $16.7 billion in suspected illicit transactions
Summary
MEXC recorded $126 million in net outflows over a 24-hour period surrounding FinCEN’s Nov. 6 action, while DeFiLlama tracked about $4.35 billion in assets. FinCEN accused the exchange of facilitating $16.7 billion in transactions linked to sanctions evasion, terrorist financing and cybercrime, citing Russian and Iranian exposure and suspected ransomware payments. The order bars covered US financial institutions from handling transactions involving MEXC starting 30 days after Federal Register publication, but does not shut down its international operations or automatically freeze customer assets. MEXC says services remain normal and is reviewing its controls. The impact on its banking and liquidity relationships is uncertain.
