OKX founder Star Xu advises users to avoid direct MEXC transfers

OKX tightens risk controls on MEXC-linked funds after FinCEN special measures, as users report frozen USDT deposits OKX founder Star Xu has a simple request for anyone holding funds on MEXC: please do not send them straight to OKX right now. On November 7, 2026, Xu posted on X advising users to temporarily hold off on direct transfers from MEXC to OKX. The warning followed special measures taken by FinCEN, the US Treasury’s financial crimes unit, against MEXC. What OKX is doing, and why it is moving early According to the research findings, OKX has rolled out enhanced risk controls on MEXC-linked funds. They are described as similar to the controls exchanges apply during financial sanctions. The timing is notable. FinCEN set a 30-day transition period for its measures against MEXC. OKX chose not to use that runway. Instead, the exchange moved immediately, acting ahead of the window rather than waiting for it to close. Users report frozen USDT deposits The advisory did not arrive in a vacuum. Users began reporting that USDT deposits sent from MEXC to OKX were being flagged and frozen. The reported problems involved two common versions of the stablecoin: TRC20 and ERC20. These labels...