OKX Pleads Guilty to Money Laundering Violations and Will Pay $500 Million in Penalties

On February 24, 2025, the Acting United States Attorney for the Southern District of New York announced that Aux Cayes Fintech Co. Ltd, d/b/a “OkEx,” d/b/a “OKX”, a Seychelles-based entity that since 2017 has operated one of the largest cryptocurrency exchanges in the world, pled guilty to one count of operating an unlicensed money transmitting business.[1] OKX agreed to pay monetary penalties of more than $504 million.[2]