MEXC Global Suspends All Card Payments and Deposits Until November 18

MEXC Global has suspended all MEXC Global Card payments and deposits until November 18, citing maintenance by its third-party card issuer. FinanceFeeds reported the November 14 notice, which said customer funds remain secure and unaffected.

MEXC Global Card Maintenance and Issuer Silence

In its November 14 maintenance notice, MEXC Global said its third-party card issuer was making service adjustments that required all Global Cards to be placed under maintenance. Card purchases and deposits will be declined during the interruption, while customers can transfer remaining card balances back to their MEXC Fiat Accounts using the withdrawal function on the card management page.

Refunds received during maintenance will continue to be credited to customers' card accounts, with the option to transfer those amounts to fiat balances. Transactions initiated before the suspension will follow normal settlement procedures, and outstanding cashback will continue to be distributed according to the existing schedule. MEXC did not identify the card issuer, disclose the number of affected customers or explain whether the adjustments involve a temporary technical change or a restructuring of its issuing arrangements.

The card maintenance follows a November 6 enforcement action by the Financial Crimes Enforcement Network, which designated MEXC Global a financial institution of primary money laundering concern in connection with Russian illicit finance. The agency alleged that MEXC facilitated approximately $16.7 billion in transactions associated with sanctions evasion, cybercrime and other illicit activity between May 2021 and May 2026. The measure was published in the Federal Register on November 10 and is scheduled to take effect on December 10, 2026.

Turkish exchange Paribu subsequently announced that deposits originating from MEXC and withdrawals directed to the platform would be restricted beginning November 13. On November 10, Binance said it would decline outgoing transfers to MEXC-related entities and subject incoming deposits from those entities to compliance reviews.

MEXC Global's Scale and Trading Activity

MEXC Global was founded in 2018 and is headquartered in Mahé, Seychelles, according to akta.pro company records. The same records list a global user base of more than 40 million across 170+ countries as of 2026, monthly trading volume of $641 billion for May 2026 and $437 billion for June 2026, and a headcount range of 1,001 to 5,000. Vugar Usi is listed as chief executive officer.

Earlier Restrictions on MEXC Global

On November 7, NatGold Digital requested immediate delisting of its NATG token from MEXC following a U.S. Treasury order prohibiting U.S. financial institutions from processing funds involving MEXC, PR Newswire reported. That same day, Reserve and its market maker partners said they would pause liquidity provision for LCAP and CMC20 on MEXC and withdraw the funds in response to a FinCEN order targeting the exchange, according to ChainCatcher. On November 6, MEXC said it would refer eligible French customers to Kraken, extending a transition arrangement from the Netherlands, TradingView reported.

MEXC Global's December 10 Deadline

The FinCEN order is scheduled to take effect on December 10, 2026. MEXC has said it is reviewing its anti-money-laundering and sanctions compliance arrangements.