Malta’s Financial Intelligence Analysis Unit (FIAU) has imposed a fine of 1.1 million euros ($1.2 million) on OKX’s European subsidiary, Okcoin Europe, due to past violations of Anti-Money Laundering (AML) regulations. Although OKX has enhanced its compliance measures over the last 18 months, the FIAU noted that it could not overlook the platform's previous systematic failures in AML compliance from 2023, some of which were considered serious. This penalty comes as European regulators scrutinize the exchange following allegations related to a hack in February 2025, wherein up to $100 million was reportedly laundered using OKX’s Web3 proxy. The crackdown on OKX coincides with the implementation of Europe’s new Markets in Crypto-Assets (MiCA) regulations, under which OKX is among the first exchanges licensed in Malta. Further updates are expected as the situation develops.

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