Paxful Hit with $4 Million Penalty Over Illegal Transactions and Crimes

TLDR Paxful has been sentenced to pay a $4 million fine after pleading guilty to money laundering and prostitution charges. The company processed over $3 billion in crypto trades between 2017 and 2019, including transactions linked to Backpage. The U.S. Department of Justice initially sought a $112 million penalty but reduced it to $4 million [...]

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