CoinEx becomes Iranian sanctions rail after $3.84B in flows tied to IRGC and central bank
WSJ •
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Promote with Leviathan NewsWSJ, citing TRM analysis of public blockchain data, says Iranian entities moved more than $3.84B through CoinEx, with wallet activity tied to Iran’s Central Bank and the IRGC. Investigators traced funds from two Central Bank-controlled wallets back to the $1.5B Bybit hack before the money moved through a maze of transactions toward CoinEx. CoinEx says it has no relationship with Iran’s government and is moving to limit access from Iran, but the scale makes this look like sanctions infrastructure, not stray retail flow.
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