US Treasury's FinCEN orders US financial institutions to stop all fund transfers with crypto exchange MEXC Global, citing at least $16 billion in illicit transactions including cybercrime
The US Department of the Treasury said on 6 November 2026 that its Financial Crimes Enforcement Network (FinCEN) issued an order under section 9714(a) of the Combating Russian Money Laundering Act that prohibits US financial institutions from any transmittal of funds from or to MEXC Global, a convertible virtual currency exchanger.
Treasury says that between May 2021 and May 2026 MEXC Global facilitated at least $16 billion in funds connected to sanctions evasion, cybercrime and other illicit activity, including nearly $1.5 billion linked to Russian sanctions evasion, and that it was still processing transactions with sanctioned Russian exchange Garantex and its successor Grinex as recently as June 2026.
Treasury also says MEXC Global served as a hub for Iranian and DPRK sanctions evasion, ransomware and scam payments, and darknet market activity, and processed about $1 billion in direct transactions with more than 40 Iranian exchangers.
Treasury says the order takes effect 30 days after publication in the Federal Register. BleepingComputer (9 Nov 2026) reported the order.
- Product
- MEXC Global crypto exchange (FinCEN section 9714 order — not a product CVE)
- Versions
- n/a — regulatory action
- Exploited in Australia?
- unknown
- Patch to
- Desk advice (not Treasury text): compliance teams at institutions with US exposure should check payment and crypto-transfer screening for MEXC Global ahead of the order's effective date (30 days after Federal Register publication).