CoinEx denies claims it served as $3.84 billion gateway to sanctioned Iranian crypto firms
Blockchain analysts TRM Labs says CoinEx facilitated more than £3.8 billion in blockchain-traced flows with sanctioned Iranian crypto entities. CoinEx disputes the findings.
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Summary
- TRM Labs said it traced over $3.84 million in flows between CoinEx and sanctioned Iranian crypto entities over a period of seven years.
- TRM said CoinEX handled around $2.7 billion in transfers with Nobitex, Iran’s largest crypto exchange.
- CoinEx denied having any commercial relationship with Iranian exchanges or government entities, saying it has begun exiting Iran-related business.
