The recent $1.5 billion hack of cryptocurrency exchange Bybit has prompted an investigation by European regulators into OKX, a major digital asset exchange. Authorities are scrutinizing allegations that OKX's Web3 service was utilized by hackers to launder approximately $100 million in stolen funds from the Bybit breach. The investigation is centered around whether the Markets in Crypto-Assets (MiCA) regulations apply to OKX and could potentially lead to sanctions. OKX has denied these allegations, claiming that misinformation has arisen from statements made by Bybit. The situation has escalated as the probe intensifies amid concerns over North Korean hackers' involvement in the laundering activities. Reports indicate that the EU is considering penalties against OKX as part of this inquiry.