Binance blocks withdrawals to MEXC and holds MEXC deposits for compliance review
Binance says it will decline any request to send funds to MEXC or 12 related names and withhold deposits from them. Accounts involved may be restricted or offboarded.
· Effective · Verified 2026-11-11 via official announcement
Effective Nov 10, 2026: Binance blocks withdrawals to MEXC and holds MEXC deposits for compliance review. Affects: Binance users who move funds between Binance and MEXC, directly or through intermediate addresses. Source: binance.com, verified Nov 11, 2026.
Official site: binance.com
Binance said on 10 November 2026 that it will no longer process transactions involving MEXC, after the US Treasury's Financial Crimes Enforcement Network (FinCEN) named MEXC a primary money laundering concern on 6 November. Requests to send funds from a Binance account to MEXC entities will be declined, and deposits Binance receives from them will be withheld for compliance review. Binance's post on X says the measures apply effective immediately.
The notice lists 13 names: MEXC Global Limited, MEXC Estonia OÜ, GIDA Technology AG, MXC Global Ltd, MEXC Global Foundation Ltd, MEXC Singapore Pte Ltd, MEXC (Comoros) Ltd, MEXC, MEXC Global, MEX Global Ltd, MX Global LTD, MEX Exchange (a former name) and MEXC affiliates. Binance tells users not to send to, receive from or transact through Binance with any of them, directly or indirectly.
Users whose deposits from these entities are held may face further restrictions under Binance's terms of use, including offboarding, and Binance says the affected account may be restricted while the review runs. It has not said how long reviews take or whether held deposits will be returned or released. Other Binance deposits and withdrawals are not covered by the notice.
The FinCEN order bars US financial institutions from moving funds to or from MEXC once it takes effect, 30 days after publication in the Federal Register. Treasury says MEXC Global handled at least $16 billion tied to illicit activity between May 2021 and May 2026. Binance's block goes further than the order requires of non-US firms and starts now. OKX founder Star Xu told users on 7 November to avoid direct MEXC-to-OKX transfers and said linked funds may be frozen. MEXC disputes the allegations and says deposits and withdrawals on its platform continue normally.
“Any requests to send funds from a Binance Account to any of the above entities will be declined.”
— Binance announcement, Important: Transactions with Certain Crypto Platforms
Who this affects
Binance users who move funds between Binance and MEXC, directly or through intermediate addresses. Deposits and withdrawals unrelated to MEXC are not covered.
Binance at a glance
Binance is a centralised crypto exchange founded in 2017 by Changpeng Zhao, now run under Abu Dhabi (ADGM) entities regulated by the FSRA. It offers spot, margin, futures, options, earn products and P2P. Regular users pay 0.10% spot maker and taker (0.075% when paying fees in BNB) and 0.02%/0.05% on USDT-margined futures. It does not serve the US, Canada or the Netherlands; Binance.US is a separate company.
Full Binance sheet · 0.2% round trip
Official site: binance.com
More from the newsroom
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Binance - Important: Transactions with Certain Crypto Platforms (2026-11-10) — checked 2026-11-11
- Binance on X - enhanced compliance measures following FinCEN's designation of MEXC (2026-11-10) — checked 2026-11-11
- US Treasury - Operation Economic Outcast Severs MEXC Global's Access to the U.S. Financial System — checked 2026-11-09
- Star Xu on X - Please avoid transferring funds directly from MEXC to OKX (2026-11-07) — checked 2026-11-09
- crypto.news - Binance blocks MEXC transfers after FinCEN's $16B crackdown (2026-11-10) — checked 2026-11-11
- BitPinas - Binance Halts Transfers Linked to MEXC Global Following US Money Laundering Action (2026-11-10) — checked 2026-11-11
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