MEXC sees $126 million outflows as US targets exchange over $16.7 billion in suspected illicit transactions

Crypto exchange MEXC saw $126 million in net outflows as US regulators moved to sever its access to the American financial system. The withdrawals coincided with a Nov. 6 enforcement action by the Treasury's Financial Crimes Enforcement Network (FinCEN), which accused the exchange of facilitating $16.7 billion in transactions linked to sanctions evasion, terrorist financing and cybercrime. Data from DeFiLlama showed $126.03 million in net outflows over a 24-hour period spanning the announcement, while the exchange retained approximately $4.353 billion in tracked assets.

Source: CryptoSlate