MEXC insists business is normal, and traders are shrugging. But a 30-day clock is about to start, and the Garantex collapse shows how fast an exchange can unravel once its partners decide to walk away.
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The Financial Crimes Enforcement Network (FinCEN) at the U.S. Treasury Department ordered U.S. financial institutions to cut off MEXC Global, an offshore cryptocurrency exchange. According to the MEXC FinCEN order, the exchange facilitated at least $16 billion in illicit transactions from May 2021 to May 2026. This included nearly $1.5 billion related to evading Russian sanctions and around $1…
