European regulators are investigating OKX after hackers used its Web3 platform to launder approximately $100 million in stolen crypto from the ByBit hack. Authorities are assessing whether the platform falls under the Markets in Cryptoassets (MiCA) regulations and whether penalties should be imposed. The scrutiny follows a broader discussion among national watchdogs about the oversight of crypto exchanges under the new EU framework.
ByBit Hack: EU Considers Sanctions on OKX Over Stolen Crypto Laundering
According to a Bloomberg report, hackers laundered $100 million in crypto from the ByBit hack through OKX’s Web3 service. The stolen assets were primarily Ethereum (ETH) and were moved through decentralized platforms and cross-chain bridges. The incident is considered one of the most sophisticated cyberattacks on the crypto industry.
EU regulators are debating whether the top crypto exchange’s Web3 platform should be classified under MiCA rules. Some authorities argue that its inte
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