PAXFUL HIT WITH $4M FINE FOR AML FAILURE
Prosecutors claim Paxful profited from criminal activity. Illegal funds from fraud, prostitution, and sex trafficking moved through the platform. Paxful knew customers were moving illicit cash. This is a major red flag for the entire ecosystem. Regulatory action is escalating. Every platform must enforce strict AML. The consequences are severe.
Disclaimer: This is not financial advice.