Blockchain analytics firm TRM Labs has traced $3.8 billion in cryptocurrency movements tied to 60 sanctioned Iranian entities flowing through the exchange CoinEx. According to TRM's findings, CoinEx accounted for roughly 8% of illicit transaction volume linked to these entities, a share the firm described as substantially higher than that of comparable exchanges. The analysis highlights ongoing concerns about how sanctioned actors use cryptocurrency platforms to move funds and circumvent restrictions. Iran has faced extensive international sanctions, and authorities have increasingly scrutinized digital asset channels as potential avenues for evading financial controls. The report adds to broader industry attention on exchange compliance practices and the role intermediaries play in facilitating or preventing illicit flows. CoinEx has previously faced security and regulatory challenges, and findings like these may intensify pressure on the platform to strengthen its anti-money-laundering and sanctions-screening measures.
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