Binance refused transfers to MEXC addresses and reviewed related transactions.

On November 10, according to BeInCrypto, Binance has strengthened related compliance measures and immediately rejected transfers initiated by users to MEXC addresses after the U.S. Financial Crimes Enforcement Network (FinCEN) designated MEXC as an entity of primary money laundering concern.

Binance stated that users should not send or receive funds through its platform to MEXC and its affiliated entities. 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 period.

Previously, FinCEN alleged that MEXC processed at least $16 billion tied to illicit activities. On-chain investigator ZachXBT questioned the figure, suggesting it may have been inflated, and requested access to the underlying data and comparative basis.