CoinEx Becomes Key Hub for Iran to Evade Sanctions With $3.84B in Transactions

According to The Wall Street Journal, reported via ChainCatcher, Iranian entities have conducted over $3.84 billion in cumulative transactions through CoinEx exchange to circumvent U.S. economic sanctions. Blockchain analysis revealed that funds linked to digital wallets controlled by Iran's central bank are connected to $1.5 billion stolen by North Korean hackers from Bybit exchange. The funds ultimately flowed through CoinEx via complex transaction routes, establishing the exchange as a critical channel for Iran to bypass sanctions.
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