Binance has officially banned cryptocurrency transfers to and from MEXC. Indirect transactions are also subject to restrictions, and users risk having their accounts blocked.

Today, #Binance issued a warning following a decision by the US regulator FinCEN, which on November 6 designated #MEXC Global as a financial institution posing an elevated money-laundering risk. The decision concerns at least $16 billion in transactions linked to sanctions evasion involving Russia, Iran, and North Korea, as well as other illegal activities.

The exchange stated that it would no longer be able to process transactions involving MEXC and its affiliated legal entities, including branches in Estonia, Singapore, the Comoros, and other structures.

This applies not only to direct transfers between the two exchanges. According to Binance’s official announcement:

- Withdrawals from Binance to MEXC addresses will be rejected.

- Deposits from MEXC will be temporarily held pending completion of a review.

- Transactions across a user’s entire account may be restricted during the investigation.

❗️ - In some cases, Binance may terminate its services to a client entirely.

The particularly important wording is the ban on both direct and indirect transfers. This means that using an intermediate personal wallet does not guarantee that you’ll avoid problems. Exchanges may track the history of cryptocurrency movements and identify links to MEXC addresses. Keep that in mind.

MEXC itself claims that it continues to operate as usual and that users’ funds are safe. Sure, sure.