Binance Shuts Down Transfers Involving MEXC and Its Affiliates

News By Caroline Amosun 11/10/2026 - 11:50 Binance imposes multiple transaction restrictions on leading crypto exchange MEXC and all its affiliates amid rising money laundering concerns.Advertisement Binance Shuts Down Transfers Involving MEXC and Its Affiliates

Cover image via depositphotos.com

Just a few days after the U.S. Treasury took action to cut global crypto exchange MEXC off from the U.S. financial system, Binance has also announced strict regulatory actions against the exchange.

On Tuesday, November 10, Binance, the world’s largest cryptocurrency exchange by volume, announced its immediate decision to halt all transfers involving MEXC and all its affiliated companies.

Binance takes action on FinCEN’s rule against MEXC

Binance released an official announcement earlier today, warning users that it has stopped all trading services related to MEXC following new concerns about its legitimacy.

HOT Stories XRP, Near Protocol (NEAR), Hyperliquid (HYPE) and Stellar (XLM) Price Analysis for November 10: Market Pressure Keeps Growing Ripple's Schwartz Debunks XRP Price Myth

While the restrictions were announced to take effect immediately, Binance explained that its move follows the recent decision by the U.S. Financial Crimes Enforcement Network (FinCEN) to designate MEXC as a Primary Money Laundering Concern.

As such, Binance has prohibited its users from directly or indirectly sending funds to, receiving funds from, or conducting transactions through Binance involving MEXC and its related entities.

The MEXC-affiliated entities mentioned by Binance include MEXC Global Limited, MEXC Estonia OÜ, MEXC Singapore Pte Ltd, MEXC Global Foundation Ltd, GIDA Technology AG, and several other companies and affiliates operating under the MEXC name.

MEXC faces $16 billion fraud allegations

Although MEXC is among the top 20 crypto exchanges in the world, FinCEN issued an order against MEXC on November 6, cutting the exchange off from the U.S. financial system amid recent fraud allegations.

Notably, the U.S. Treasury accused the exchange of facilitating at least $16 billion in illicit transactions tied to sanctions evasion and cybercrime and of defrauding people of their funds.

While Binance remains the first crypto exchange to take action in accordance with FinCEN’s rule, it appears that many other exchanges are lining up to take similar action.

#Binance #MEXC