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Home BlockchainBitcoin Exchange Paxful Must Pay $4 Million Over Prostitution, Money Laundering Charges
Blockchain

Bitcoin Exchange Paxful Must Pay $4 Million Over Prostitution, Money Laundering Charges

by Decrypt
written by Decrypt 0 comments
Bitcoin Exchange Paxful Must Pay $4 Million Over Prostitution, Money Laundering Charges

In brief

  • Peer-to-peer Bitcoin exchange Paxful was sentenced this week to pay $4 million in criminal fines.
  • Paxful pleaded guilty to facilitating money laundering, fraud, prostitution, and sex trafficking-related transactions.
  • Though Paxful agreed its conduct warranted a $112 million penalty, the DOJ reduced the fine, citing inability to pay.

Paxful, the peer-to-peer Bitcoin exchange that closed in 2023, was sentenced this week by a federal court to pay $4 million in fines after pleading guilty to…

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