OKX founder Star has advised users to temporarily avoid sending funds directly from MEXC to OKX, as the cryptocurrency exchange tightens its compliance procedures in response to special measures imposed on MEXC by the U.S. Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. For users holding assets on MEXC who planned to move them to OKX, the practical effect is direct: deposits sent from MEXC may be delayed or held entirely while OKX conducts its checks.

According to Wu Blockchain, OKX has proactively strengthened its compliance controls following the regulatory action. The exchange is applying a level of caution comparable to the approach used in financial sanctions cases, meaning funds originating from MEXC may be subjected to additional scrutiny. The episode is also an example of how a U.S. regulatory measure aimed at one platform can quickly change day-to-day operations at another, since OKX is not the target of FinCEN's measures yet is adjusting its deposit handling accordingly.

Funds May Be Frozen During Compliance Reviews

Star's warning indicates that transfers originating from MEXC could be frozen while OKX carries out its review. Accounts associated with those transactions may also face further investigation, although the source did not specify how long the reviews could take or what criteria would determine whether an account is investigated.

The advisory is temporary and applies specifically to direct transfers from MEXC to OKX. Users moving funds between the two platforms may therefore encounter additional compliance checks, and incoming funds may not be immediately available while a review is pending.

OKX's tightened controls follow FinCEN's special measures against MEXC. The exchange has reinforced its procedures in connection with that regulatory action, while Star has urged users to refrain from direct transfers between the two platforms until the situation becomes clearer. The open questions to watch are the ones the advisory leaves unanswered: how long the compliance reviews will last, what criteria OKX will use to decide which accounts face further investigation, and whether either exchange offers further clarity on the impact of FinCEN's measures.

Source: Hokanews