EU Scrutiny Intensifies as OKX Faces Allegations of Misuse in Bybit Hack, Reports Bloomberg
by aria-crypto.com
March 12, 2025 at 07:01
EU Scrutiny Intensifies as OKX Faces Allegations of Misuse in Bybit Hack, Reports Bloomberg
European regulators are closely examining OKX following claims that its Web3 platforms were used to launder about $100 million stolen from Bybit. The investigation was sparked by reports that North Korea's Lazarus Group utilized these services to obfuscate funds from a $1.5 billion heist. Central to the investigations is whether OKX's actions align with the EU's Markets in Crypto Assets (MiCA) regulations, which could result in severe penalties or loss of licenses. Despite allegations reported by Bloomberg, OKX has ardently denied any wrongdoing, asserting that its Web3 services comply with EU norms and are similar to those offered by competitors. OKX has also cooperated with law enforcement to trace and block involved hacker IPs. This scrutiny marks a significant moment in the EU's efforts to regulate the rapidly evolving cryptocurrency landscape.
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