Binance Blocks Transfers to MEXC Addresses and Reviews Related Transactions

TechFlow news: On November 10, citing BeInCrypto, Binance enhanced related compliance measures after the U.S. Financial Crimes Enforcement Network (FinCEN) designated MEXC as a primary money laundering concern, immediately refusing user-initiated transfers to MEXC addresses.

Binance said users should not send or receive funds to or from MEXC and affiliated entities through its platform. Direct or indirect transactions involving these entities will be subject to further review, and affected funds and accounts may be temporarily restricted during the review.

Previously, FinCEN accused MEXC of processing at least $16 billion in funds linked to illicit activities. On-chain investigator ZachXBT questioned the figure, suggesting it may have been overstated, and requested the underlying data and comparison basis.

Source: TechFlow