OKX ceased its DEX aggregator service after Bybit was hacked for $1.5B. European regulators took notice when the network enabled North Korean hackers to launder at least $100M in stolen funds. The incident took place in February 2025.
OKX's compliance with MiCA regulations is currently being closely examined by EU watchdogs. Since the exchange's Web3 service isn't completely decentralized, they wonder if it complies with MiCA regulations. After the hack, OKX's European operating license is in jeopardy. The business disputes any role it may have played in money laundering. Bybit says it helped them track and block dubious wallet addresses.
ESMA and EBA are considering actions against OKX. Two possible courses of action are reevaluating its MiCA permit or canceling its EEA license. The Bybit attack has prompted discussions between OKX's management and Malta's financial authority.
They launched an investigation after OKX's recent $504M penalties for handling unauthorized U.S. transactions. As EU regulators strive to provide uniform oversight under MiCA regulations, the exchange is currently facing yet another court struggle.
