Malta fines OKX $1.2 million for past AML violations
The MiCA-licensed crypto exchange OKX has significantly improved its compliance efforts over the past 18 months. However, Malta's regulator says it cannot overlook the platform’s past “systematic” anti-money laundering (AML) failures.
Malta’s Financial Intelligence Analysis Unit (FIAU) has fined OKX’s European subsidiary — Okcoin Europe — €1.1 million ($1.2 million) after discovering numerous past AML breaches on the platform.
OKX was among the first crypto exchanges to receive a license under the EU’s new Markets in Crypto-Assets (MiCA) framework through its Malta hub in January 2025.
A symbolic penalty for past misconduct
As reported Cointelegraph, while acknowledging that OKX has made significant improvements to its AML policies over the last 18 months, the FIAU said it “could not ignore” earlier compliance failures dating back to 2023.
“Some of these were deemed serious and systematic,” the regulator said in its notice.
News of the fine comes just weeks after Bloomberg reported in March that EU regulators were investigating OKX in connection with $100 million in laundered funds following the Bybit hack.
Bybit CEO Ben Zhou also claimed that OKX’s Web3 proxy allowed hackers to launder approximately $100 million (or 40,233 ETH) stolen during the February Bybit exploit.
As we wrote, the Securities and Exchange Commission (SEC) of Thailand has filed a formal complaint against Aux Cayes FinTech Co. Ltd, the operator of OKX in Thailand, and nine promoters of the popular crypto exchange for operating without a license.
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