$MEXC is really in serious trouble this time.
On November 6, the U.S. Treasury ordered MEXC to be cut off from the U.S. financial system.
The reason: over the five years from May 2021 to May 2026, it allegedly processed at least $16 billion in illicit funds, including sanctions evasion involving Iran, North Korea, and Russia, as well as ransomware and fraud.
A few details to note.
This is not an OFAC sanctions designation, and it doesn’t freeze assets.
It’s a special measure under Section 9714 of the anti-money laundering law, imposed by FinCEN. U.S. banks and payment providers will no longer be allowed to transfer money to MEXC—including stablecoins and Bitcoin.
It won’t take effect immediately, either. It takes effect 30 days after publication in the Federal Register. It hasn’t been published yet, so the earliest would be December.
MEXC says everything is operating normally, withdrawals are working, and assets are safe.
OKX has already warned users not to transfer funds directly from MEXC to OKX.
Within one week, Binance had $6.3 billion stolen, GOPAX halted operations, and MEXC was cut off by the U.S.—all three things happened at once.
To put it simply: when your coins are in someone else’s hands, you’re never the one in control.
If you have positions on MEXC, keep a close eye on withdrawal options over the next few days. Don’t wait until the day it takes effect to panic.
Just my personal opinion, not investment advice.
#MEXC
On November 6, the U.S. Treasury ordered MEXC to be cut off from the U.S. financial system.
The reason: over the five years from May 2021 to May 2026, it allegedly processed at least $16 billion in illicit funds, including sanctions evasion involving Iran, North Korea, and Russia, as well as ransomware and fraud.
A few details to note.
This is not an OFAC sanctions designation, and it doesn’t freeze assets.
It’s a special measure under Section 9714 of the anti-money laundering law, imposed by FinCEN. U.S. banks and payment providers will no longer be allowed to transfer money to MEXC—including stablecoins and Bitcoin.
It won’t take effect immediately, either. It takes effect 30 days after publication in the Federal Register. It hasn’t been published yet, so the earliest would be December.
MEXC says everything is operating normally, withdrawals are working, and assets are safe.
OKX has already warned users not to transfer funds directly from MEXC to OKX.
Within one week, Binance had $6.3 billion stolen, GOPAX halted operations, and MEXC was cut off by the U.S.—all three things happened at once.
To put it simply: when your coins are in someone else’s hands, you’re never the one in control.
If you have positions on MEXC, keep a close eye on withdrawal options over the next few days. Don’t wait until the day it takes effect to panic.
Just my personal opinion, not investment advice.
#MEXC