Cryptocurrency exchange OKX is facing regulatory scrutiny in Europe as Maltese authorities have fined its Europe-based subsidiary, Okcoin Europe, 1.1 million euros ($1.2 million) for Anti-Money Laundering (AML) violations. According to the Financial Intelligence Analysis Unit (FIAU) in Malta, multiple AML failures were detected on the platform in the past. Despite significant improvements in AML policies over the past 18 months, OKX’s past compliance failures from 2023, some of which were considered serious and systematic, led to the fine. OKX was one of the first crypto exchanges to obtain a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation via its Malta hub in January 2025. The penalty in Malta follows reports in March that European Union regulators were investigating OKX for allegedly laundering $100 million from the Bybit hack. Bybit CEO Ben Zhou claimed that OKX’s Web3 proxy facilitated the laundering of $100 million, equivalent to 40,233 Ether (ETH), from the $1.5 billion Bybit hack in February. This is a developing story, and updates will be provided as more information becomes available.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cryptocurrency exchange OKX is facing regulatory scrutiny in Europe as Maltese authorities have fined its Europe-based subsidiary, Okcoin Europe, 1.1 million euros ($1.2 million) for Anti-Money Laundering (AML) violations. According to the Financial Intelligence Analysis Unit (FIAU) in Malta, multiple AML failures were detected on the platform in the past. Despite significant improvements in AML […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/87971"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=87971"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/87971\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=87971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=87971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=87971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}