US Treasury Cuts MEXC Global Off From US Financial System Over $16 Billion in Illicit Transactions

FinCEN ordered US financial institutions to stop processing transfers involving MEXC Global, accusing the Seychelles-based exchange of facilitating at least $16 billion in illicit transactions between May 2021 and May 2026. Treasury said the activity included $1.5 billion tied to Russian sanctions evasion, $22 million linked to the Central Bank of Iran and the IRGC-Qods Force, and transactions connected to North Korean sanctions evasion and cybercrime. The order, part of Operation Economic Outcast, takes effect 30 days after publication in the Federal Register. MEXC was processing more than $1 billion in daily trading volume as of September 2026, according to Treasury.

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