OKX Freezes High-Risk Deposits in Crackdown on Illicit Activity

OKX has implemented stricter compliance and security measures for deposits from high-risk sources. According to the exchange, deposits flagged as originating from high-risk addresses will trigger enhanced anti-money laundering (AML) and risk reviews. These reviews can last '15 days or longer' depending on the circumstances, during which time account functions and funds may be restricted.

The exchange has specifically highlighted Telegram guaranteed-transaction groups and Huiwang as high-risk deposit sources. In serious cases, accounts confirmed to be linked to illegal activity could have services terminated entirely.

OKX's move aims to strengthen its security measures and protect against potential illicit activities in the crypto space. The exchange emphasized that deposits from flagged high-risk addresses may trigger longer review periods, potentially disrupting user access and deposit flows across various on-ramps, including centralized exchanges (CEX), decentralized finance (DeFi), and other platforms.