Crypto journalist on OKX laundering investigation: 'They're cracking down'

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Crypto journalist on OKX laundering investigation: 'They're cracking down'

Web3/Crypto

Thutski, Crypto Journalist | Instagram

By Crypto Republique

Mar 11, 2025

An X user named Thutski, an independent crypto journalist, said that European regulators are intensifying their investigations into OKX's Web3 service following allegations that hackers laundered $100 million in stolen cryptocurrency through the platform. This statement was made on X on March 11.

"they're cracking down," said Thutski.

According to Bloomberg, European regulators are scrutinizing OKX’s Web3 platform after hackers allegedly used it to launder $100 million in stolen cryptocurrency from Bybit. The investigation is part of broader European Union enforcement under the Markets in Crypto-Assets (MiCA) regulations and may result in penalties for OKX.

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Bloomberg also reports that North Korean hackers have increasingly targeted cryptocurrency exchanges, with illicit proceeds exceeding $1.5 billion from Bybit alone. These funds are often laundered through decentralized platforms and cross-chain bridges to avoid detection.

Thutski is recognized as an independent journalist who covers significant developments within the cryptocurrency industry. His reporting focuses on regulatory actions, exchange security, and blockchain transparency. He is widely followed for his analysis of market trends and compliance issues.

According to Axios, OKX was founded in 2017 and is based in the Seychelles. It is one of the world’s largest cryptocurrency exchanges but has faced regulatory scrutiny in multiple jurisdictions. Recently, it paid over $500 million in penalties for unlicensed transactions in the United States.

Organizations Included in this History

Bybit

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Crypto journalist on OKX laundering investigation: 'They're cracking down'

CRYPTO NEWS AROUND THE GLOBE

It's the first institutional investment in the crypto exchange and the investment was made in an unnamed stablecoin, Binance said.

US CPI Inflation Drops to 2.8%: Is Bitcoin About to Explode Again?

Business founder on Binance France allegations: 'What is this madness?'

Indian authorities arrest alleged Garantex founder for US extradition

Trump’s crypto summit ‘not going to have anything on taxes’ — White House official

Bitcoin: USA could sell gold to finance its strategic BTC reserve

Lawmaker of Japanese LDP on crypto regulation: We will classify 'Crypto assets as a new asset class'

Tom Lee Predicts Market Bottom This Week, Still Sees Bitcoin Closing the Year at $150K

IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador

Bitcoin: Michael Saylor's company pauses BTC purchases

Head of law enforcement training at Binance: We need 'a unified approach between law enforcement and industry leaders'

Bitcoin Sell-Off Could Be a Textbook 'Breakout and Retest' Play: Godbole

CEO of Binance on crypto market turbulence: 'A tactical retreat, not a reversal'

Bybit hack forensics show SafeWallet compromise led to stolen funds

Bitcoin News: U.S. Spot Bitcoin ETFs See Record Single-Day Outflow of Over $900M as Carry Trades Yield Less Than the 10-Year Treasury Note

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CZ unveils crypto investment portfolio with a 98.5% allocation to BNB, 1.3% to BTC

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CZ on aid for Argentinian rug pull victims: 'Sent 150 BNB. Good luck'

CEO of AUSTRAC on non-AML compliant crypto exchanges: They 'can expect to hear from us'

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U.S.-Listed Bitcoin Miners Are Growing Their Share of the Network Hashrate: Bernstein

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Blockchain Wars: BNB Chain Overtakes Solana and Ethereum in Daily Fees

Former prosecutor of DOJ: The corporate monitorship system is 'in dire need of reform'

CEO of Crypto Council for Innovation: 'SEC initiated more than 125 enforcement actions' but issued 'no clear guidance or rulemakings'

District Judge on Coinbase lawsuit: Coinbase 'sells digital assets qualifying as "securities" without registering with' SEC

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Organizations Included in this History

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