Users of major cryptocurrency exchanges Binance and OKX have reported delayed or frozen deposits originating from MEXC following U.S. Treasury action against the platform. Gate users have also reported transfer problems, although none of the exchanges has announced platform-wide restrictions affecting MEXC deposits. Binance, OKX, and Gate are among the largest centralized cryptocurrency exchanges by trading volume. The reports, posted on November 7, came one day after the Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued a special measure order targeting MEXC Global.

The complaints emerged after FinCEN, the bureau charged with safeguarding the U.S. financial system from illicit use, moved against MEXC Global over suspected illicit financial transactions. Some customers reported pending deposits and compliance reviews, while others said their transfers were awaiting refund decisions. The user reports surfaced while the order's restrictions are not yet operative.

Binance, OKX, and Gate Users Report MEXC Transfer Reviews

According to Wu Blockchain, a news outlet that tracks Chinese-language crypto industry developments, users transferring funds from MEXC to other centralized exchanges encountered additional compliance checks. Some reported that receiving platforms held their deposits pending verification, while others faced delays in crediting funds. The reports came from individual user accounts rather than official statements from the platforms.

Users Report Deposit Restrictions at OKX, Binance and Other Exchanges Following FinCEN Action Against MEXC Following the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) issuance of a special measure order targeting MEXC Global, some community users reported that… pic.twitter.com/GXylEEswjd

— Wu Blockchain (@WuBlockchain) November 7, 2026 (source on X)

The complaints involved Binance, OKX, and Gate, but the exchanges have not confirmed general restrictions affecting all MEXC transfers. The number of affected users remains unknown, and the receiving platforms have not disclosed when the reviews might end.

Separately, Wu Blockchain reported that Bitget Wallet, the Web3 wallet affiliated with the Bitget exchange, confirmed restrictions on its card top-up service. The card service lets users convert crypto holdings for spending through payment cards. The service reportedly no longer accepts funds identified as originating from MEXC, although this concerns card funding rather than all wallet transactions.

Similar transaction reviews have followed previous regulatory actions against cryptocurrency exchanges. In May, Bybit introduced additional screening for HTX-related transfers after British authorities imposed sanctions connected to Russian financial networks. Under those measures, affected customers could face requests for transaction histories and documentation showing where their funds originated.

Bitget also introduced phased sanctions compliance measures in August, covering several designated exchanges and payment platforms. The latest MEXC-related complaints, by contrast, involve individual transactions, with no confirmed exchange-wide suspension from Binance, OKX, or Gate.

FinCEN Targets MEXC Over $16 Billion in Illicit Transactions

The reported restrictions follow FinCEN's November 6 order targeting MEXC Global over suspected money laundering and sanctions violations. According to the U.S. Treasury, MEXC facilitated at least $16 billion in illicit transactions between May 2021 and May 2026. The agency linked those transactions to sanctions evasion involving Iran, North Korea, and Russia, alongside other cybercrime activities.

Treasury said approximately $1 billion moved directly between MEXC and more than 40 Iranian cryptocurrency exchanges during that period. FinCEN also identified about $22 million in transactions involving Iran's sanctioned central bank and the Islamic Revolutionary Guard Corps.

The regulator issued its order under Section 9714 of the Combating Russian Money Laundering Act. The MEXC enforcement order prohibits covered U.S. financial institutions from processing transfers involving the exchange, including cryptocurrency transactions. However, the restrictions take effect 30 days after publication in the Federal Register and are not yet operative.

Treasury also sanctioned eight Canadian financial businesses as part of its wider efforts against illicit financial networks. Those separate measures involved allegations of sanctions evasion and financial transactions connected to restricted entities.

MEXC Says Operations Remain Normal

MEXC subsequently responded to the order, saying it was reviewing the measure with its legal and compliance teams. The exchange maintained that operations remained normal and customer assets were secure.

MEXC also announced an independent review of its anti-money laundering and sanctions controls. It said it would engage with FinCEN and other authorities while continuing to provide official updates.

Developments to watch include the order's publication in the Federal Register, which starts the 30-day window for the restrictions to take effect, any official statement from Binance, OKX, or Gate on MEXC transfers, and the results of MEXC's announced independent review of its anti-money laundering and sanctions controls and its engagement with FinCEN.