MEXC hit with US FinCEN ban over alleged $16.7B illicit transactions, sees $126M outflows in 24 hours. According to data platform DeFiLlama, crypto exchange MEXC recorded $126 million in net outflows within 24 hours of the regulatory action announcement, while its tracked assets remain at approximately $4.353 billion. The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued an order on November 6, alleging that the exchange facilitated approximately $16.7 billion in transactions suspected of evading sanctions, financing terrorism, and supporting cybercrime between May 2021 and May 2026. MEXC CEO Vugar Usi stated that the ban restricts transactions with the U.S. financial system and does not freeze user assets, noting that platform withdrawals, deposits, and trading services are operating normally, and the exchange is cooperating with the review while conducting an independent AML screening. The ban will take effect 30 days after publication in the Federal Register.