U.S. DOJ hits Paxful for $4 million in case tied to illegal sex work, money laundering

Sacramento platform Paxful faces $4M penalty for illegal trades

According to the Justice Department, Paxful profited by facilitating transactions for criminals and failing to comply with anti-money laundering laws.

U.S. DOJ hits Paxful for $4 million in case tied to illegal sex work, money laundering

The crypto platform's penalty was sharply reduced due to its ability to pay, according to U.S. authorities.

US DOJ orders Paxful to pay $4M fine over illicit crypto transactions

The United States Department of Justice has ordered peer-to-peer cryptocurrency marketplace Paxful to pay a fine of $4 million for criminal conduct involving failure to implement proper anti-money laundering checks. A statement released by the DOJ, Paxful has pleaded guilty…

DOJ Fines Paxful $4 Million for Illicit Funds Transfers

The United States has ordered cryptocurrency exchange Paxful to pay $4 million in criminal penalties for knowingly facilitating funds transfers. Prosecutors said Paxful lacked adequate anti-money-laundering controls and even promoted weak compliance practices. A U.S. federal court ordered Paxful Holdings Inc. to pay a $4 million criminal fine for its past unlawful operations involving a cryptocurrency exchange platform. The U.S. Justice Departme…

US Fines Paxful $4M for Funds Linked to Trafficking and Fraud

In a high‑profile enforcement action, Paxful, the peer‑to‑peer crypto exchange, was ordered to pay $4 million after admitting it knowingly profited from criminals who used its platform due to lax anti‑money laundering controls. The Department of Justice outlined that Paxful pleaded guilty in December to conspiring to promote illegal prostitution and knowingly transmitting funds derived from crime, in violation of federal AML requirements. The go…