Blockchain analysts allege CoinEx processed $3.84 billion in transactions linked to sanctioned Iranian crypto firms, a claim the exchange denies.
Cryptocurrency exchange CoinEx has denied allegations that it facilitated $3.84 billion in transactions with sanctioned Iranian crypto entities. Blockchain analytics firm TRM Labs reported tracing over £3.8 billion in flows between CoinEx and Iranian firms subject to sanctions.
The allegations follow increased scrutiny of crypto platforms’ compliance with international sanctions. TRM Labs’ findings suggest potential regulatory risks for CoinEx, though the exchange disputes the accuracy of the data.
No immediate market reaction was reported, but the claims could heighten regulatory pressure on global crypto exchanges.