Binance Blocks Transfers to MEXC Following US Sanctions

Binance has suspended all transactions with the MEXC exchange. This decision follows the platform's classification as a primary money laundering concern by the United States Department of the Treasury.

Binance users are prohibited from sending or receiving funds from 13 entities linked to MEXC. The list includes operational branches in Singapore and Estonia. Any transfer attempt will be rejected by the exchange's system.

Deposits originating from MEXC will be held for compliance review. Binance stated that clients who ignore these restrictions may face additional measures including the termination of their accounts on the platform.

The US agency FinCEN alleges that MEXC processed 16 billion dollars in suspicious transactions between 2021 and 2026. This amount includes approximately 1.5 billion dollars associated with schemes to evade sanctions imposed on Russia.

The restriction imposed by the US government prohibits financial institutions from processing transfers involving the exchange. Other platforms such as OKX have also issued warnings to their users regarding the risks of transacting with the cited entity.