ZachXBT: The illegal transaction amount of 16 billion USD for MEXC referred to by FinCEN may be overstated

On-chain detective ZachXBT stated that the $16 billion in illegal transactions involving the cryptocurrency exchange MEXC, as pointed out by the U.S. Financial Crimes Enforcement Network (FinCEN), may be overstated. He noted that MEXC's past anti-money laundering and customer identification policies have been relatively lax, but he hopes to see relevant data, the proportion of suspected illegal transaction amounts to MEXC's total trading volume, and comparisons with other exchanges.

ZachXBT also questioned why some offshore exchanges, which have almost no business in the U.S., quickly cut off channels for MEXC users to transfer assets, and who these measures are actually protecting.