Cointelegraph·11h ago·negative

Iran-linked entities moved $3.8B through CoinEx, blockchain analysis finds

TRM Labs traced $3.84B moved by 60 sanctioned Iranian entities through CoinEx since 2019, with $2.7B flowing between CoinEx and Iran's largest exchange Nobitex.

60 Iranian-linked platforms moved $3.84B through CoinEx since 2019, per TRM Labs
$2.7B flowed between CoinEx and Nobitex, Iran's largest exchange, at ~$1M/day
CoinEx's share of illicit transactions is 8%, far above the 0.3% compliant exchange threshold
CoinEx denied any commercial relationship with Iranian entities or government
US Treasury recently sanctioned four Iranian crypto exchanges as part of 'Economic Fury' campaign

regulationscamsImpact 7/10

Why our editor rated this negative

Large-scale sanctions evasion through a crypto exchange highlights ongoing illicit finance risks in the industry.

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