The US Treasury issued an order to cut cryptocurrency exchange MEXC Global off from the US financial system, accusing it of facilitating at least $16 billion in transactions linked to sanctions evasion, cybercrime and other illicit activity. Its Financial Crimes Enforcement Network said MEXC handled transactions involving sanctioned groups in Iran, Russia and North Korea between May 2021 and May 2026, including about $1.5 billion linked to Russian sanctions evasion.
The action is part of Operation Economic Outcast, a Treasury campaign aimed at financial entities that help Iran evade sanctions. MEXC had not responded to a request for comment by publication.
