OKX to Pay $500 Million After Guilty Plea for Crypto Crime

OKX admitted in Manhattan federal court on Monday to a single felony count of operating an unlicensed money transmitting business.
Photographer: Brent Lewin/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Bob Van Voris, Jazper Lu, and Muyao Shen

February 24, 2025 at 10:07 PM UTC

Updated on

February 25, 2025 at 2:25 AM UTC

This article is for subscribers only.

The OKX cryptocurrency exchange, one of the world’s largest, pleaded guilty on Monday to processing more than $1 trillion in transactions by US customers without a license and will pay more than $504 million in penalties.

The exchange, which allows users to make spot trades in more than 300 cryptocurrencies including Bitcoin and Ethereum, admitted in Manhattan federal court to a single felony count of operating an unlicensed money transmitting business.