US Treasury Bans MEXC Global Crypto Exchange Over Sanctions Evasion and Cybercrime Links
The US Department of the Treasury has issued a ban prohibiting MEXC Global from accessing the US financial system due to its role in facilitating at least $16 billion in illicit transactions. The Seychelles-based exchange, founded in 2018 and serving over 40 million users across 170 countries, was found to have processed transactions linked to ransomware, scams, and sanctions evasion involving Iran, North Korea, and Russia between May 2021 and May 2026. FinCEN highlighted ongoing dealings with sanctioned entities such as Garantex and Grinex as recently as June 2026, along with $226 million tied to the A7 sanctions evasion network. Deficiencies in MEXC's AML and customer verification controls allowed direct transactions worth approximately $1 billion with over 40 Iranian CVC exchangers. The order exposes US institutions and individuals to secondary sanctions for any dealings with MEXC. In response, MEXC stated it is conducting an independent review of its sanctions and AML controls while maintaining normal operations and secure user assets.
BleepingComputerNov 9, 2026Translated from English