EU regulators are investigating OKX regarding its services that may have been involved in laundering $100 million from the Bybit hack. This inquiry follows a discussion among national watchdogs during a March 6 meeting by the Digital Finance Standing Committee. The focus is on OKX's decentralized finance platform and wallet service. On January 27, OKX announced it had secured a license to operate across all EU member states. Regulators are considering whether OKX’s services comply with the EU's MiCA framework, potentially leading to penalties. According to Bybit CEO Ben Zhou, a significant portion of the funds had allegedly been laundered through OKX, with part of the money now untraceable. Despite these allegations, OKX has denied any investigations and accused Bybit of spreading misinformation, asserting that claims linking them to laundering are unfounded. The Bybit hack represents the largest crypto breach to date, attributed to a North Korean hacking group, with only a fraction of the stolen assets currently frozen.

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