US bans MEXC crypto exchange over sanctions evasion, cybercrime links

The US Department of the Treasury has cut off the MEXC Global crypto exchange from the US financial system over sanctions evasion and links with cybercrime gangs.

Founded in 2018, the Seychelles-based MEXC is one of the world's largest crypto exchanges, giving more than 40 million users from more than 170 countries access to 3,000 cryptocurrencies and tokenized assets.

According to a Financial Crimes Enforcement Network (FinCEN) order, MEXC has allowed illicit transactions of at least $16 billion linked to cybercrime operations and Iranian, North Korean, and Russian sanctions evasion between May 2021 and May 2026.

FinCEN has blamed this on deficiencies in the crypto exchange's anti-money laundering (AML) and customer identification and verification policies.

MEXC is operating normally, and user assets remain secure, MEXC said.

The ban exposes US financial institutions and individuals to secondary sanctions or enforcement actions for transfers of funds to or from the MEXC Global crypto exchange.

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In response to FinCEN's ban order, MEXC said that its legal and compliance teams have launched a review of its sanctions and AML controls.

MEXC is aware of the order issued by the U.S. Financial Crimes Enforcement Network (FinCEN) on November 6, 2026, and is reviewing it closely in coordination with our legal and compliance teams.

We have also begun an independent review of our AML and sanctions controls.