The cryptocurrency trade OKX has introduced a agency coverage banning accounts linked to the questionable mixing service Twister Money in an try to stop illicit exercise and promote compliance with worldwide legal guidelines.
In line with OKX CEO Star Xu, any account discovered to be exploited by Twister Money or different licensed companies like Garantex can be cancelled directly.
被制裁的人无法在okx成功开户。
对于已经开户成功用户：
1. 从被制裁的主体比如 Garantex和 Twister cash充值到okx
2. 从okx提币去被制裁的主体都会触发合规风控，导致被清退账户。
制裁和普通人很遥远，大部分人完全不需要担心。 https://t.co/MTJ7OtQRny
— Star (@star_okx) August 9, 2024
Twister Money Controversy
Twister Money is acknowledged for hiding crypto transactions, which unscrupulous folks exploit to launder cash and commit different crimes. The agency is beneath extra regulatory scrutiny after the US Treasury Division penalized it in 2023 for permitting over $7 billion in illegal transactions.
Associated Studying
OKX Compliance Measures
These days, OKX’s threat management methods are programmed to robotically discover and shut accounts linked to Twister Money or one other authorised firm. Xu underlined that the interplay is important to comply with related sanctions guidelines, notably these enforced by america.
OKX’s Twister Money crackdown follows allegations of the service sending stolen cash through protocol assaults. On August 7, the Rain crypto trade hacker laundered 1,155 Ether utilizing Twister Money.
#okx #pressing
ALL @okx EXCHANGE USERS ARE AT RISKSince 2019, I’ve been a accomplice of the OKX trade, really useful it to you and actively used it myself.
Till right this moment, it labored truthfully and stably.
However right this moment, I remorse to confess that the trade coverage and all of the… pic.twitter.com/fQiDRj6aHO
— Satoshi Associates 🌱 (@slezisatoshi) August 8, 2024
Response To Person Considerations
Xu mentioned that the person has earlier than made massive transactions through authorised exchanges or DeFi methods. The person was nonetheless allowed to withdraw clear cash earlier than their account was banned nonetheless.
Emphasizing that OKX can’t present providers to sanctioned people or corporations, Xu clarified that compliance considerations made it not possible to maneuver knowledge from an previous account to a brand new one.
Xu knowledgeable the broader person base that almost all shoppers function distant from authorised companies, therefore most of them are unlikely to be harmed. He underlined that preserving the dedication of the trade to monetary integrity and regulatory compliance will depend on these steps.
Associated Studying
Influence On Twister Money
OKX’s deactivation of Twister Money accounts follows a crypto business development in the direction of regulatory compliance and legality. Binance and Kraken each delist privateness cash and prohibit mixing.
Roman Semenov, Alexey Pertsev, and Roman Storm—a trio of Russian immigrants dwelling in Europe—based Twister Money in 2019.
Pertsev was sentenced to 5 years in jail in Might 2024 for breaking anti-money laundering rules with transactions using Twister Money.
Featured picture from Pexels, chart from TradingView