OKX is cracking down on cryptocurrency deposits linked to gambling and other high-risk sources, founder and CEO Star Xu announced. Deposits from high-risk addresses now trigger anti-money laundering (AML) reviews that can last 15 days or longer, during which account functions and funds may be restricted. The exchange will terminate accounts entirely if activity is confirmed to be illicit.
Xu identified specific channels of concern, including "guaranteed" escrow services operated through Telegram groups and Huiwang, the pinyin name for Huione Guarantee. The Huione marketplace processed over $27 billion in transactions before regulators took action against it in 2025. Successor platforms, including Tudou Guarantee, have since absorbed significant transaction volume.
OKX previously flagged wallets connected to Huione Guarantee for compliance checks after US authorities moved against the network. The US Treasury's FinCEN cut off Huione from the US financial system in October 2025. The exchange has stated it could freeze funds or deactivate accounts confirmed to be linked to such networks.
The compliance measures follow broader regulatory pressures on the crypto industry. A CertiK finding indicated that AML enforcement now ranks as the top regulatory risk in crypto, surpassing securities cases. OKX itself paid more than $500 million in AML-related penalties in the United States last year.
Xu acknowledged that legitimate users sometimes get caught by the platform's fraud detection systems. In July 2025, OKX faced public backlash after users reported accounts frozen due to false fraud flags. Whether the new 15-day review window will effectively reduce illicit activity without affecting legitimate depositors remains to be seen.
