OKX News: Chief Legal Officer Mauricio Beugelmans Departs Amidst US DoJ Settlement

In a significant development for the cryptocurrency industry, OKX has announced the departure of its Chief Legal Officer, Mauricio Beugelmans. His exit comes on the heels of a major settlement with the U.S. Department of Justice, marking a pivotal moment for the exchange.

OKX Chief Legal Officer Mauricio Beugelmans Leaves the Exchange

OKX chief legal officer Mauricio Beugelmans has left the cryptocurrency exchange, according to his Linkedin profile. Beugelmans played a key role in shaping OKX’s global compliance policy, having been with the exchange from August 2021 to March 2025. A source familiar with the matter attributed Beugelmans’ exit to the recent settlement with the U.S. Department of Justice (DoJ), in which OKX paid over $500 million in penalties and forfeited fees for facilitating more than $5 billion in ’suspicious transactions and criminal proceeds.’

OKX Names New CLO After DOJ Settlement and Leadership Shake-Up

OKX, a major crypto exchange, faced significant penalties from the U.S. Department of Justice (DOJ). The DOJ imposed over $500 million in penalties and forfeitures due to OKX operating as an unlicensed money transmitter and ignoring U.S. anti-money laundering laws since 2017. The DOJ labeled OKX’s behavior reckless, with FBI officials accusing the exchange of aiding criminals in moving over $5 billion in suspicious transactions. OKX encouraged U.S. users to fake their identity and avoid detection. As a result, OKX had to shut down part of its business after North Korea-linked hackers used its platform to launder stolen funds. The settlement included $84 million in penalties and forfeiture of $421 million earned from U.S. customers.