OKX Affiliate Pleads Guilty to Money Laundering Violations, Faces $500 Million Fine

Aux Cayes FinTech Co., Ltd., an affiliate of OKX, has admitted guilt for operating an unlicensed money-transmitting business in the US, as part of a settlement with the Department of Justice (DOJ). The company will pay over $500 million in penalties. This includes a $84 million penalty and the forfeiture of approximately $421 million in fees earned from US customers who accessed the global platform.