- OKX fined $1.2M by Malta for AML violations.
- Malta’s FIAU discovers systemic AML violations at OKX.
Crypto exchange OKX has been fined €1.1 million, which is around $1.2 million, by Malta’s Financial Intelligence Analysis Unit (FIAU). The FIAU discovered several anti-money laundering violations during its unannounced April 2023 inspection of OKX. The FIAU found that serious problems detected by the inspection existed within a systemic pattern.
OKX Fined for Failing to Monitor Customers, Violating AML Rules
First of all, the FIAU said OKX failed to properly check and monitor its customers. The implementation of strong customer checks represents one of the essential requirements in AML legislation. Ordinary customer identification checks would discourage users from utilizing the platform to conduct money laundering operations or pull off fraudulent schemes.
In addition, OKX did not do enough to understand the source of its customers’ funds. Financial institutions must fulfill this set of requirements. The FIAU revealed that OKX operated without adequate internal control systems and failed to report various types of suspicious transactions as required.
As a result, the agency decided to issue a heavy fine and published its findings in an official notice. According to the agency’s statement, the problems went beyond minor mistakes because OKX displayed critical operational deficiencies.
Despite these problems, OKX has been trying to grow its business in Europe. OKX obtained its license under the European Union’s Markets in Crypto-Assets (MiCA) regulation in January 2025 as one of the initial organizations issuing such a license. OKX obtained the license through its base in Malta.
The OKX European division continued its expansion path when it obtained its biggest European asset in March 2025. The financial company acquired another one to obtain a MiFID II license that year. The license enables OKX to extend its investment services throughout the European market.
OKX Confronts Legal Issues as It Expands Globally
OKX expands its reach but simultaneously encounters substantial obstacles that affect its operations. Media news outlet Bloomberg reported that European Union regulatory officials launched an investigation against OKX in March 2023. A case involving $100 million stolen from a Bybit hack might have used OKX to clean the funds through its platform.
Furthermore, OKX encounters difficulties in operating within the Thai market. The Thai Securities and Exchange Commission (SEC) took legal action against Aux Cayes FinTech Co. Ltd., the business operation company of OKX. The company operated a digital asset exchange while lacking official authorization to do so.
The Thai authorities implemented this action based on Thailand’s Emergency Decree on Digital Asset Businesses (2018), which regulates crypto business operations throughout the country. The SEC executed legal action against Aux Cayes FinTech Co. Ltd. and its nine individual representatives in addition to the company lawsuit. The country demonstrates rising enforcement measures regarding the management of crypto trading platforms.
Lastly, OKX operates as a significant entity in worldwide crypto market operations. The organization has dedicated substantial resources toward expanding its operations into Europe, together with Asia. The platform faces multiple active legal and regulatory problems at present. The combined $1.2 million fine from Malta, along with EU investigations and Thai legal proceedings, confirms the necessity of enhanced regulatory compliance.
