MEXC was cut from the US financial system by the US Treasury on Friday 6 November 2026, Decrypt reported. The action blocks the exchange's access to US banking rails and dollar settlement, so holders face degraded account access and exports while the coins in their own wallets remain untouched.
What did the US Treasury do to MEXC on November 6?
The US Treasury severed crypto exchange MEXC from the US financial system on Friday 6 November 2026, according to Decrypt. The action targets the exchange's access to US banking rails and dollar settlement, not the tokens sitting in your own wallet elsewhere.
The Block reported the same day that the move covers alleged $16 billion in transactions linked to Iran, North Korea and Russia. For an investor, the mechanical consequence is simple: the data trail that lives inside your MEXC account may become harder to reach, and dollar on-ramps and off-ramps tied to US institutions are closing.
- Your coins still exist as a balance or on an external wallet; the sanction is about the exchange's banking access.
- Account access, exports and support can degrade quickly once an exchange is cut off.
- Your records are now the one thing fully under your control, which is why reconciliation matters today, not later.
Why reconcile your MEXC positions and transactions now?
Reconciling means matching every balance and trade on MEXC against your own independent log so your crypto profit and loss stays accurate after the cut-off. The risk after an exchange loses banking access is that exports, pages and statements stop loading before you have pulled your data.
A reconciliation is the difference between a P&L you can defend and a gap you have to guess at. If you track your crypto in one place, a severed exchange should not leave a hole in your cost basis or your realised gains.
- Positions: how many units of each coin you held on MEXC at the cut-off.
- Transaction history: every buy, sell, deposit, withdrawal and fee, each with its date and price.
- Transfers: coins you moved off MEXC to a wallet or another exchange, which are not sales.
For the bigger picture of keeping coins and stocks in one ledger, our guide on tracking stocks and crypto together in one app walks through the same discipline across asset classes.
How do you export your MEXC trade history before access degrades?
Export everything from MEXC in machine-readable form first, because a CSV you saved today still works even if the website stops loading tomorrow. Treat this as a one-time data rescue.
The files to pull
- Spot trade history as CSV, covering every pair you ever traded.
- Deposit and withdrawal history as CSV, which records transfers in and out.
- Current balances for a snapshot of what is on the exchange at the cut-off.
- Fee records if they are a separate export, since fees affect cost basis.
If an export tool fails, take dated screenshots of your balances and recent orders. A screenshot is a weaker record than a CSV, but it beats nothing and PortfolioTrackr can read one. Save every file with the exchange name and the date in the filename so your audit trail is obvious months later.
How do you log MEXC positions manually in PortfolioTrackr?
Log each MEXC holding by hand, from CSV or from a screenshot, and PortfolioTrackr builds your cost basis and P&L from it. Connecting a broker is never required, and bulk CSV import, Smart & Easy Import (voice, text and screenshot) and manual entry are on every plan, including the free trial and Starter.
PortfolioTrackr does not connect to crypto wallets or read a wallet address, so self-custody coins and exchange balances are added by hand, by CSV or from a screenshot. That is exactly the workflow you need here.
- Bulk CSV import: upload the MEXC spot history and let the importer map date, pair, side, quantity and price.
- Smart & Easy Import: paste text, speak the trade, or drop a screenshot of your MEXC balances.
- Manual entry: type a single position when you only have a screenshot or a memory to work from.
Each entry carries a free-text note, so you can write "from MEXC, pre-sanction" on every reconstructed line. There are no tags or labels, and holdings cannot be filtered by tag, region or sector, so put the context in the note itself.
How do you handle coins you moved off MEXC versus coins you sold?
A transfer off MEXC to your own wallet or another exchange is not a sale and should not show up as a realised gain. Logging a withdrawal as a sell is the single most common reconciliation error, and it inflates both your tax bill and your reported P&L.
| Event on MEXC | What it is | How to log it |
|---|---|---|
| Bought BTC on MEXC | Opening or adding to a position | Buy, at the price and date on the trade line |
| Sold BTC for USDT on MEXC | Realised gain or loss | Sell, at the fill price and date |
| Withdrew BTC to your wallet | A transfer, not a sale | Move the position, do not record a sell |
| Deposited BTC onto MEXC | A transfer in, cost basis travels with it | Keep the original buy date and price |
When coins arrive somewhere new, their cost basis is the original purchase price and date, not the transfer date. Carrying that forward is what keeps your lifetime gain correct across venues.
How do currency rates affect your reconstructed MEXC P&L?
If you report in a currency other than the US dollar, each MEXC trade should be converted at the exchange rate of its own trade date, not today's rate. PortfolioTrackr converts the cost of a holding at the rate of the day it was bought and its value at today's rate, and shows the currency gain or loss as its own line on the summary card and the P&L chart.
This matters for MEXC users because trades were often priced in USDT or USD while your home currency is something else entirely. PortfolioTrackr holds 10 years of daily exchange rates for 100 currencies, so a buy from two years ago converts at that day's rate.
- Buys convert at the rate of the purchase date.
- Sells convert at the sale-day rate.
- The tax report converts each trade at the rate of its own date and prints the rate on every row.
For a wider comparison of how tools handle this kind of multi-currency crunch, see our real-data comparison of six portfolio trackers.
How do you keep tracking the coins after they leave MEXC?
Once a coin sits in your wallet or on another exchange, add it as a holding in PortfolioTrackr and let live pricing follow it across the 100 exchanges and venues it trades on. Major coins like BTC-USD and ETH-USD price from deep global markets, so a severed exchange does not strand your valuation.
Set price levels where you need them
You can set price alerts on any position or watchlist level. Every position and every watchlist level is checked once a minute while its market is open, and around the clock for crypto, with alerts within a minute of your level being hit.
- Alerts are price levels only: Target 1, Target 2 and a stop-loss on a position, and a price above or below on a watchlist entry.
- The watchlist carries 10 tickers on the free trial and Starter, and 50 on Pro and Lifetime.
- PortfolioTrackr reports status against your own levels, such as Target 1 reached or stop-loss level reached. It does not give advice.
If exchange risk is on your mind more broadly, our breakdown of how to track your exposure after the Binance withdrawals reopened covers the same reconciliation habits for a different venue.
The bottom line
The MEXC cut-off on 6 November 2026 does not erase your coins, but it does put a clock on your access to the one record only the exchange holds. Export your spot history, deposits and withdrawals and balances now, log them manually or by CSV, and separate real sales from transfers so your cost basis carries forward.
Deciding what to do with the positions is yours alone. Checking your exposure, confirming your log is complete and setting the price levels you care about is work you can finish today, and that is exactly what a clean reconciliation leaves you free to do.
Sources
Frequently asked questions
Did the Treasury sanctions on MEXC affect coins in my wallet?
No. The US Treasury action on 6 November 2026 severed MEXC from the US financial system and dollar settlement, not the coins held in your own self-custody wallet. Your tokens still exist. The practical risk is reduced access to MEXC's account data, exports and support, which is why exporting your records now matters.
How do I log MEXC transactions if I can't export a CSV?
Use dated screenshots of your balances and recent orders, then add them with PortfolioTrackr's Smart & Easy Import, which reads screenshots on every plan including the free trial. Manual entry also works for a single position. A screenshot is weaker than a CSV, but it preserves the record before access degrades.
Is a withdrawal from MEXC a taxable sale?
No. Moving coins from MEXC to your own wallet or another exchange is a transfer, not a sale, so it should not be logged as a realised gain. The original cost basis and purchase date travel with the coins. Only an actual sell for another asset is a disposal that affects your P&L.
Which currency rate should I use for old MEXC trades?
Use the exchange rate of each trade's own date, not today's rate. PortfolioTrackr converts a holding's cost at its purchase-day rate and its value at today's rate, using 10 years of daily rates across 100 currencies. The tax report prints the rate used on every row for each trade's date.
Can PortfolioTrackr still price my coins after MEXC is cut off?
Yes. Once a coin sits in your wallet or on another venue, PortfolioTrackr prices it from global markets across its 100 exchanges, so a severed exchange does not strand your valuation. Major coins like BTC-USD and ETH-USD price from deep markets. Add the holding by hand, by CSV or from a screenshot.