OKX
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anchored·4DJrBF…iMMVSummary
OKX (formerly OKEx) is one of the world's largest centralized cryptocurrency exchanges by trading volume, founded in 2017 by Mingxing 'Star' Xu and operated by Aux Cayes Fintech Co. Ltd, incorporated in the Seychelles. In February 2025 its Seychelles operating entity pleaded guilty in U.S. federal court to operating an unlicensed money transmitting business for over seven years, agreeing to pay more than $504 million in fines and forfeitures. The exchange carries a moderate-to-elevated risk profile due to this criminal conviction, a pattern of AML failures across multiple jurisdictions, and historical incidents including a 42-day withdrawal freeze in 2020; it has taken substantive remediation steps including monthly proof-of-reserves publication since 2022, a MiCA license in the EU, and a US relaunch in April 2025 under new regional leadership.
Connected Entities
5 entities · 60 linked investigations- OKX→mentioned with→Bybit(70%)
- OKX→mentioned with→Bitcoin(65%)
- OKX→mentioned with→Binance(60%)
- OKX→mentioned with→OKX DEX(85%)
- Bybit→mentioned with→Binance(60%)
- Bybit→mentioned with→Bitcoin(65%)
1 submission awaiting moderator review.
Timeline(19 events)
11 April 2018
OKEx announces expansion to Malta, citing the island's favorable blockchain regulatory environment.
Wikipedia31 July 2018
A single trader's approximately $420 million BTC futures long position is force-liquidated; OKEx initiates a 17.7% socialized loss clawback on profitable traders and adds $18.5 million to its insurance fund.
Fortune / CCN16 October 2020
OKEx suspends all customer withdrawals, citing unavailability of a private key holder cooperating with Chinese police. Founder Star Xu is reported to have been detained by Chinese authorities approximately one week prior.
CoinDesk19 November 2020
OKEx announces resumption of unrestricted withdrawals after a 42-day suspension. Star Xu surfaces publicly and states he was cleared by authorities.
CoinDeskOctober 2021
OKEx ceases mainland China operations following China's comprehensive ban on cryptocurrency trading.
WikipediaJuly 2022
OKX obtains a Virtual Asset license from the Dubai Virtual Asset Regulatory Authority (VARA).
WikipediaNovember 2022
OKX begins publishing monthly cryptographic Proof of Reserves reports following the collapse of FTX.
OKX official / Cointribune12 December 2023
OKX DEX aggregator is exploited; losses estimated at $370,000 by OKX and up to $2.7 million by PeckShield, attributed to a compromised proxy admin contract upgrade.
CoinTelegraphMarch 2024
Malta MFSA imposes EUR 304,000 penalty on OKCoin Europe for failing to comply with the Virtual Financial Assets Act.
CoinDesk15 August 2024
OKX ceases all operations in Nigeria, citing regulatory concerns. Nigerian Naira withdrawals had been suspended in May 2024.
CCN27 January 2025
OKX Europe Ltd receives full MiCA authorization from the Malta MFSA, becoming among the first global exchanges to obtain the EU-wide crypto license.
CCN24 February 2025
Aux Cayes Fintech Co. Ltd (OKX) pleads guilty in the Southern District of New York to operating an unlicensed money transmitting business and agrees to pay $504 million in fines and forfeitures.
DOJ SDNY / AxiosMarch 2025
OKX temporarily suspends its DEX aggregator service after detecting that the North Korean Lazarus Group attempted to use it to launder approximately $100 million stolen in the Bybit hack. EU regulators open a related investigation.
BleepingComputer / The Block15 April 2025
OKX relaunches US operations with a new San Jose, California headquarters and regional CEO Roshan Robert, offering spot exchange and Web3 wallet services to US users.
FortuneApril 2025
Malta FIAU imposes EUR 1.1 million fine on OKCoin Europe for serious and systematic AML breaches identified in an April 2023 on-site examination.
AML Square / CCN5 March 2026
Intercontinental Exchange (NYSE parent) makes a roughly $200 million strategic investment in OKX at a $25 billion valuation, obtaining a board seat and two commercial data/trading partnerships.
Fortune / BloombergDecision Log
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- slot 426286075 · hash EdSQRPWxwQgewMaBHtoZAy27D4YSRgbDCrLxaZ1v8bvq
- slot 423204529 · hash VDEVNTwwnKvtwu3ZxhygBRRCqqhkcb9H8QpK1yYLHV4
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 24 of 26 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/30/2026, 5:45:37 PM
last updated: 5/30/2026, 5:45:37 PM
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