OKX Strengthens AML Controls Amid Crackdown on Huione Group

Key Highlights: 

• OKX announces implementation of strict AML controls on transactions linked to Huione Group. 
• Huione has been labelled as a top money laundering risk under Section 311 by the U.S. and U.K.
• The DOJ managed to seize $15 billion in Bitcoin from the group. 

Crypto exchange OKX has introduced strict anti-money laundering (AML) rules for any transactions that are linked to Cambodia’s Huione Group (also called Huiwang Group), after a global crackdown was carried out on one of Southeast Asia’s biggest laundering networks. OKX stated on its official X (formerly known as Twitter) account that deposits and withdrawals tied to the group will face compliance checks , and actions such as freezing funds or closing accounts may be taken.

U.S. and U.K. Crackdown on Huione

The crackdown was well coordinated and was led by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN), with support from the U.K.’s Foreign, Commonwealth, and Development Office (FCDO). All of these agencies have cut Huione Group off from the global financial system.

All of them have named Huione a primary money laundering threat under Section 311 of the USA PATRIOT Act, applying special measures to stop its financial activities in U.S. and allied markets.

The move came after FinCEN found out that Huione had laundered more than $4 billion in illegal funds between August 2021 and January 2025. The money had come from crypto scams, North Korean cyber thefts, and global fraud schemes. Huione’s vast network included units like Huione Pay, Huione Crypto, and Haowang Guarantee, which together handled transactions for criminals through online marketplaces, cash conversions and digital asset transfers.

Links to Massive Global Crypto Fraud

Authorities have stated that Huione was one of the key players in South Asia’s rising scam-compound industry that was tied to the “pig butchering” scams. In these schemes, the victims were fooled into investing in fake crypto projects.

The group’s activities were said to be tied to entities such as the Prince Group, a conglomerate that was run by Chen Zhi (also known as Vincent), which ran Bitcoin mining sites and fake investment schemes in Cambodia and Laos.

U.S. and U.K. officials have recently unsealed charges against Chen Zhi, accusing him of running a global crime network that is mixed with crypto mining with high-tech fraud. The DOJ has also filed a $15 billion civil forfeiture case covering about 127,000 Bitcoin that are tied to these schemes.

Analysis also showed that Huione Group had handled more than $98 billion in crypto, including illegal funds sent through anonymous wallets, scam websites, and unlicensed exchanges.

OKX’s Compliance Response

In response to this situation, OKX announced today, October 15, 2025, that it has added stronger transaction monitoring to detect and block any suspicious activity that may be linked to Huione and its affiliates. According to the post on X, all transactions that are connected to Huione Group will be undergoing a full compliance review.

On the basis of the fundings, affected accounts may be freezed or services can be suspended to meet global AML rules. This comes after OKX’s own regulatory issues. In February 2025, the exchange admitted to failing AML and KYC rules and paid more than $500 million as fines to the U.S. Department of Justice. Since then, the firm has improved its compliance framework, pledging full cooperation with financial authorities worldwide.

The Huione crackdown shows growing global cooperation that is being developed to fight cross-border crypto fraud. Authorities are currently seizing billions in illegal digital assets, and exchanges like OKX must detect and report any suspicious transactions. According to OKX, legitimate users will not be affected but the new rules indicate a zero-tolerance approach to money laundering, highlighting the key role of exchanges in enforcing AML measures.

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