Binance, OKX Users Report Frozen MEXC Deposits After U.S. Treasury Action

TLDR:

Binance, OKX and Gate users report delayed MEXC-linked deposits, but no exchange-wide blocks are yet confirmed.
Bitget Wallet reportedly stopped accepting MEXC-origin funds for card top-ups amid stricter compliance checks.
FinCEN alleges MEXC facilitated at minimum $16 billion in illicit transactions from May 2021 through May 2026.
FinCEN’s transfer restrictions take effect 30 days after Federal Register publication rather than immediately.

Crypto exchanges Binance and OKX have been named in user reports of delayed MEXC-linked deposits following U.S. Treasury action against MEXC. Gate users have also reported transfer problems, although the exchanges have not announced platform-wide restrictions.
The complaints emerged after FinCEN issued an order targeting MEXC Global over suspected illicit financial transactions. Some customers reported pending deposits and compliance reviews, while others said their transfers were awaiting refund decisions.
Binance, OKX, and Gate Users Report MEXC Transfer Reviews
According to Wu Blockchain, users transferring funds from MEXC to other centralized exchanges encountered additional compliance checks. Some reported that receiving platforms held their deposits pending verification, while others faced delays in crediting funds.

Users Report Deposit Restrictions at OKX, Binance and Other Exchanges Following FinCEN Action Against MEXC
Following the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issuance of a special measure order targeting MEXC Global, some community users reported that… pic.twitter.com/GXylEEswjd
— Wu Blockchain (@WuBlockchain) November 7, 2026

The complaints involved Binance, OKX, and Gate, but the exchanges have not confirmed general restrictions affecting all MEXC transfers. The number of affected users remains unknown, and the receiving platforms have not disclosed when the reviews might end.
Separately, Wu Blockchain reported that Bitget Wallet confirmed restrictions on its card top-up service. The service reportedly no longer accepts funds identified as originating from MEXC, although this concerns card funding rather than all wallet transactions.
Similar transaction reviews have followed previous regulatory actions against cryptocurrency exchanges. In May, Bybit introduced additional screening for HTX-related transfers after British authorities imposed sanctions connected to Russian financial networks. Under those measures, affected customers could face requests for transaction histories and documentation showing where their funds originated.
Bitget also introduced phased sanctions compliance measures in August, covering several designated exchanges and payment platforms. The latest MEXC-related complaints involve individual transactions, with no confirmed exchange-wide suspension from Binance, OKX or Gate.
FinCEN Targets MEXC Over $16 Billion in Illicit Transactions
The reported restrictions follow FinCEN’s November 6 order targeting MEXC Global over suspected money laundering and sanctions violations. According to the U.S. Treasury, MEXC facilitated at least $16 billion in illicit transactions between May 2021 and May 2026.
The agency linked those transactions to sanctions evasion involving Iran, North Korea, and Russia, alongside other cybercrime activities. Treasury said approximately $1 billion moved directly between MEXC and more than 40 Iranian cryptocurrency exchanges during that period.
FinCEN also identified about $22 million in transactions involving Iran’s sanctioned central bank and the Islamic Revolutionary Guard Corps. The regulator issued its order under Section 9714 of the Combating Russian Money Laundering Act.
The MEXC enforcement order prohibits covered U.S. financial institutions from processing transfers involving the exchange, including cryptocurrency transactions. However, the restrictions take effect 30 days after publication in the Federal Register and are not yet operative.
Treasury also sanctioned eight Canadian financial businesses as part of its wider efforts against illicit financial networks. The separate measures involved allegations of sanctions evasion and financial transactions connected to restricted entities.
MEXC subsequently responded, saying it was reviewing the order with its legal and compliance teams. The exchange maintained that operations remained normal and customer assets were secure.
MEXC also announced an independent review of its anti-money laundering and sanctions controls. It said it would engage with FinCEN and other authorities while continuing to provide official updates.
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