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Platform founder urges users to halt direct transfers over freeze risks as MEXC leadership maintains withdrawals remain uninterrupted<\/em>.<\/p>\n Cryptocurrency exchange OKX has advised customers to avoid transferring funds directly from rival platform MEXC Global, warning that incoming deposits face potential freezes under enhanced compliance checks following a U.S. regulatory crackdown. The warning from OKX founder Star Xu came after users reported that stablecoin<\/a> deposits originating from MEXC were being flagged and placed under risk review. \u201cPlease avoid transferring funds directly from MEXC to OKX,\u201d Xu wrote on social media platform X in response to user inquiries. Sorry for the inconvenience. We understand that you may be an innocent user caught up in this situation, and we sympathize with your frustration.<\/p>\n Please avoid transferring funds directly from MEXC to OKX.<\/p>\n OKX treats FinCEN special measures with a level of caution similar to\u2026 https:\/\/t.co\/2CV921sET0<\/a><\/p>\n \u2014 Star_OKX (@star_okx) November 7, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n Xu said OKX enforced heightened screening immediately rather than waiting for the conclusion of a statutory 30-day implementation period. While Xu stopped short of announcing a blanket platform ban, his advisory confirmed that automated filters are actively intercepting deposits originating from MEXC-associated wallet addresses. (Read More: Crypto<\/a> in the Philippines: Complete Guide)<\/p>\n Usi addressed platform users several hours later, seeking to counter market concerns over customer balances. Blockchain<\/a> analytics data tracked more than $120 million in net outflows from MEXC in the hours following the U.S. announcement.<\/p>\n I’d like to keep everyone updated on where things stand and share the latest progress we’ve made over the past several hours.<\/p>\n 1. Platform Operations Remain Stable \u2014 Vugar Usi (@usithetalk) November 7, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n \u201cHas MEXC suspended deposits and withdrawals? Are users\u2019 assets safe? I would like to give you my assurance: deposits and withdrawals on MEXC have continued to operate smoothly,\u201d Usi said. \u201cWe have indeed seen an increase in withdrawal volumes, but everything has remained orderly\u201d.<\/p>\n Usi said blockchain analytics provider Elliptic had returned MEXC to its standard \u201cExchange\u201d category after temporarily applying an elevated risk classification. Usi added that the crypto exchange<\/a> has initiated an independent review of its compliance controls and plans to engage directly with U.S. authorities. (Read More: Crypto Exchanges in the Philippines<\/a>)<\/p>\n The cross-exchange friction stems from a Nov. 6 order issued<\/a> by the U.S. Treasury Department\u2019s Financial Crimes Enforcement Network under Section 9714(a) of the Combating Russian Money Laundering Act.<\/p>\n Today, as part of Operation Economic Outcast, Treasury\u2019s Office of Foreign Assets Control designated eight money services businesses based in Canada that enable the Iranian regime. <\/p>\n Additionally, @FinCENnews<\/a> issued an order effectively cutting off MEXC Global\u2019s access to the\u2026<\/p>\n \u2014 Treasury Department (@USTreasury) November 6, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n FinCEN designated Seychelles-based MEXC a primary money laundering concern, alleging the platform facilitated more than $16 billion in illicit transactions between May 2021 and May 2026. Treasury officials said that volume included nearly $1.5 billion tied to Russian sanctions evasion and approximately $1 billion routed to Iranian exchange services. The pending measure will prohibit covered U.S. financial institutions from transacting with MEXC once published in the Federal Register. The international pressure adds to existing regulatory friction for MEXC across Southeast Asia. In the Philippines, the Securities and Exchange Commission (SEC<\/a>) issued an advisory warning the public against transacting with the unlicensed platform, culminating in the removal of the MEXC application from domestic mobile app stores earlier in 2026. (Read More: SEC Flags 10 Unregistered Crypto Exchanges, Eyes Website Blocking<\/a>)<\/p>\n Despite tightening oversight in the region, MEXC has pursued growth through strategic investments in regulated domestic operators. In Indonesia, investment arm MEXC Ventures completed a strategic equity stake in Triv<\/a>, one of the country\u2019s licensed digital asset exchanges, valuing the platform at $200 million. The partnership granted the global group an indirect operational foothold in an emerging market regulated by the Financial Services Authority and the Commodity Futures Trading Regulatory Agency.<\/p>\n Disclosure: AI<\/a> is used to assist in developing this article.<\/p>\n This article is published on BitPinas: OKX Warns Against MEXC Transfers as CEO Defends Solvency After US Action<\/a><\/p>\n What else is happening in Crypto Philippines and beyond:<\/p>\n \n<\/div>\nEarly Compliance Measures<\/h2>\n
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MEXC Asserts Platform Solvency<\/h2>\n
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Over the past several hours, teams across MEXC have been actively engaging in discussions and coordinating with\u2026<\/p>\nFinCEN Regulatory Background<\/h2>\n
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Headwinds in Southeast Asia<\/h2>\n