We have reported on the MEXC crypto scheme several times in recent weeks. In particular, we have pointed out the situation that the unregulated crypto exchange MEXC processes the FIAT transaction via MEXC Estonia OÜ, which is licensed in Estonia. We recently downgraded MEXC to Red Compliance over its opaque approach. Today, MEXC Estonia’s license has been revoked due to money laundering issues.
Read the report on the MEXC downgrading to Red Compliance here.
In the last few days, we have received letters from the Austrian lawyers of MEXC, Brandl Talos, in which contradictory statements were made, to say the least. MEXC has apparently paid Austrian lawyers because the Austrian Financial Market Authority FMA has issued a warning against the crypto scheme.
We will shortly be publishing a detailed report on MEXC and the possible background to the revocation of the license in Estonia. Until then, MEXC customers should be super-cautious when dealing with this crypto exchange. Please note the Red Compliance Rating.
