MEXC USDT Withdrawals Disrupted as FinCEN Orders U.S. Cutoff
By Abdelaziz Fathi
AI summary of the source article
MEXC temporarily suspended USDT withdrawals across several blockchain networks citing routine maintenance. The disruption followed a FinCEN order barring U.S. financial institutions from transacting with the exchange over $16.7 billion in suspected illicit transactions.
Why it matters
The immediate concern for customers is the availability of individual withdrawal networks, while the regulatory order creates a separate threat to the exchange's access to U.S. financial counterparties.
Key facts
- FinCEN designated MEXC Global a primary money laundering concern, barring U.S. financial institutions from transactions involving the exchange over $16.7 billion in suspected illicit activity.
- MEXC temporarily suspended USDT withdrawals on certain networks on November 7, attributing the issue to routine network maintenance rather than the Treasury action.
- Data tracker Cexorer showed only six of 18 monitored USDT withdrawal networks active, with TRC20, Solana, Arbitrum, and Polygon among those unavailable.
Source excerpt · FinanceFeeds
Cryptocurrency exchange MEXC has acknowledged temporary USDT withdrawal suspensions across certain blockchain networks, less than a day after the U.S. Treasury ordered American financial institutions to stop processing transfers involving the exchange over $16.7 billion in suspected illicit transactions. On November 7, MEXC's customer support account attributed the interruptions to routine network…