Although in this case they claim to have given time to the users to withdraw, there has been other case where the CEX just stole the users' funds (eg. Bittrex), just like that...
Bitrex is a fraud. After blocking users from the so-said sanctioned regions, they were later fined by the US government, where I believe part of the seized funds were used to pay for the fine of about $29m. Before they filed for bankruptcy, there was news of them creating a window of withdrawal for affected victims with a condition which makes the majority of affected people unable to process their withdrawal (fraudulent acts).
AFAIK, there's going to be this new law from Russia that directs its people to use only those exchanges that are permitted by them in the P2P.
It's no longer going to be but the law have already been made, with effect to be from july 2027
Russia has confirmed that direct peer-to-peer cryptocurrency transactions between individuals will be prohibited from July 1, 2027, requiring residents to conduct trades through authorized intermediaries.
https://crypto.news/russia-to-ban-peer-to-peer-crypto-trades-what-does-it-mean-for-traders/They need to comply or face bigger consequences, to safe their businesses they did the right thing,
You mean to say they are bowing to their masters, whatever they condemn stands. If they want to keep their license, they need to follow the legal rules without objections.
I expect that many exchanges will follow MEXC and Bitget in ending their services in Russia soon because these services will cause them trouble and expose them to penalties for violating the sanctions imposed on Russia by the United States and the European Union.
It all started with news of most of the exchanges warning users not to send or receive deposits from exchanges which they believe to have been used to trade or help prevent sanctions. Now we have this.