Bittrex, Inc. — $24,280,829.20 OFAC penalty
OFAC published a $24,280,829.20 civil penalty against Bittrex, Inc. on 10/11/2022. It is the #25 largest action in OFAC’s 1,052-entry enforcement chart and #1 of the 14 actions published that year.
The record
| Entity, as published by OFAC | Bittrex, Inc. |
|---|---|
| Penalty / settlement amount | $24,280,829.20 |
| Date published by OFAC | 10/11/2022 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #25 of 1,052 |
| Rank within 2022 | #1 of 14 |
| Share of 2022 penalty total | 56.9% |
| Apparent violations cited | 116,421 |
| Statutory maximum penalty | $35,773,364,108.57 |
| Base penalty | $485,616,584 |
| Voluntarily self-disclosed | No |
| OFAC egregiousness determination | Non-egregious |
| Sanctions programs named in the release | Iran, Cuba, Syria, Ukraine/Crimea, Sudan |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $35,773,364,108.57. The settled amount of $24,280,829.20 is 0.1% of that maximum, which OFAC's Enforcement Guidelines tie to factors including voluntary self-disclosure and whether the conduct was egregious.
Primary source
OFAC enforcement release: 20221011_bittrex.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2022 actions
- Toll Holdings Limited — $6,131,855
- Sojitz (Hong Kong) Limited — $5,228,298
- Danfoss A/S — $4,379,810
- CA Indosuez Switzerland S.A. — $720,258
- American Express National Bank — $430,500
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