Binance has halted cryptocurrency transaction processing linked to MEXC Global and its 12 affiliated entities as of Nov. 10, 2026. In the announcement, Binance advised its users to avoid sending or receiving crypto assets, whether directly or through intermediary platforms connected to MEXC. For users who frequently move balances between exchanges, this policy shifts their daily transaction routines.
What Happens If Users Still Send Funds
Binance’s systems now block incoming and outgoing transactions connected to the MEXC network. Withdrawal requests directed to blacklisted entity addresses will be automatically rejected. Meanwhile, incoming asset deposits detected as originating from MEXC will not be credited immediately and will instead be held for compliance checks.
The consequences for users extend beyond delayed funds. Customer accounts detected with transaction histories tied to MEXC risk access restrictions up to unilateral account termination under the platform’s terms of use. The blacklist includes 12 entities, among them MEXC Global Limited, MEXC Estonia OÜ, GIDA Technology AG, MXC Global Ltd, MEXC Global Foundation Ltd, MEXC Singapore Pte Ltd, and MEXC (Comoros) Ltd.
$16 Billion Illicit Transaction Allegations from FinCEN
Binance’s strict stance follows enforcement action by the Financial Crimes Enforcement Network (FinCEN). On Nov. 6, 2026, the bureau under the U.S. Department of the Treasury designated MEXC as a primary money laundering concern. The order was issued under Section 9714 of the Combating Russian Money Laundering Act, requiring U.S. financial institutions to sever fund transmissions to or from MEXC within 30 days of its publication in the Federal Register.
FinCEN alleged that MEXC facilitated at least $16 billion in illicit fund flows between May 2021 and May 2026. These transactions included Russian sanctions evasion, cybercrime, and direct transfers of $1 billion to more than 40 exchanges in Iran. The report also revealed $22 million in transactions involving the Central Bank of Iran and the IRGC Qods Force. MEXC had already taken defensive steps earlier in October 2026, when the exchange announced plans to terminate services for users in Russia and Belarus.
Warning signals had already emerged before Binance acted. OKX CEO Star Xu previously cautioned customers against transferring funds directly from MEXC to avoid asset freeze risks. On MEXC’s side, CEO Vugar Usi acknowledged a surge in withdrawal volumes following the U.S. ruling, though he maintained that exchange operations and user balances remain secure.
For crypto portfolio holders, severing inter-exchange transaction routes carries immediate consequences: moving coins without checking the sender address origin now risks having funds stalled in compliance checks.
Reported via crypto.news.
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Previously: Ranked Among Top 20 Global Exchanges, MEXC Cut Off from US Financial System Over $16B Transactions
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
