A cryptocurrency exchange has been slapped with a fine of almost $177 million — the largest-ever penalty by Canada’s financial intelligence agency — for infractions including failing to flag more than 1,000 transactions with suspected links to criminal activity.

The Fin­an­cial Trans­ac­tions and Reports Ana­lysis Centre of Canada announced the penalty for Xeltox Enterprises Ltd. on Wednesday. The B.C.-incorporated business operates as Cryptomus and was previously known as Certa Payments Ltd.

The $176,960,190 eclipses the previous record — roughly $20 million — for a fine imposed by Fintrac. That penalty was given to Peken Global Ltd, the operator of another cryptocurrency firm, KuCoin, in September.

“Given that numerous violations in this case were connected to trafficking in child sex

See Full Page