Paxful crypto platform fined $4 million after prosecutors say it 'profited from moving money for criminals'
The now-defunct P2P crypto platform Paxful was sentenced to pay a $4 million criminal fine after admitting it deliberately lacked anti-money-laundering controls. Prosecutors said the platform profited about $2.7 million from processing roughly $17 million in Bitcoin tied to illicit services between 2015 and 2022.
The now-defunct P2P crypto platform Paxful was sentenced to pay a $4 million criminal fine after admitting it deliberately lacked anti-money-laundering controls. Prosecutors said the platform profited about $2.7 million from processing roughly $17 million in Bitcoin tied to illicit services between 2015 and 2022.
Source: Paxful