Iran-linked entities moved $3.8B through CoinEx, TRM says
Cointelegraph 2026-06-25 09:44:14
Context: Iranian entities, subject to sanctions, have reportedly transferred a substantial amount of money through a cryptocurrency exchange. According to TRM Labs, 60 entities from Iran have moved $3.8 billion through CoinEx. This significant transaction volume has raised concerns about the exchange's role in facilitating illicit financial activities.
Key Facts
- TRM Labs traced $3.8 billion moved by 60 sanctioned Iranian entities through CoinEx, a cryptocurrency exchange.
- The 60 entities involved in the transactions are Iranian and are subject to sanctions.
- CoinEx's 8% share of illicit transactions was substantially higher than its counterparts in the cryptocurrency exchange market.
- The transactions were facilitated by CoinEx, which has been identified as a platform used by Iranian entities to move large sums of money despite sanctions.
- The findings by TRM Labs highlight concerns about the role of CoinEx in enabling illicit financial activities, particularly those linked to sanctioned entities.