Iran Moved $3.84 Billion Through CoinEx to Circumvent US Sanctions
Crypto exchange CoinEx served as a conduit for more than $3.84 billion routed by Iran-linked entities to bypass U.S. economic sanctions, according to a Wall Street Journal report citing on-chain data analysis.
The investigation traced the transactions to digital wallets controlled by Iran’s central bank. Journalists noted the illicit flows were further linked to the $1.5 billion in digital assets stolen earlier this year from cryptocurrency exchange Bybit by North Korean hackers.
From the sources (4 posts)
@tradfi*FUNDS FROM $1.5B BYBIT HACK REACHED IRAN-LINKED WALLETS & FLOWED THROUGH COINEX: WSJ
@wsjSee how a crypto exchange became a major hub for illicit Iranian cash
@wublockchainWSJ: Iran-Linked Entities Moved $3.84 Billion Through CoinEx The Wall Street Journal reported, citing public onchain data analysis, that Iran-linked entities have moved more than $3.84 billion through crypto exchange CoinEx, making it one
@firstsquawkIRAN MOVED $3.84 BILLION THROUGH COINEX TO CIRCUMVENT U.S. SANCTIONS: WSJ Iran allegedly routed about $3.84 billion through CoinEx to facilitate international transactions and mitigate the impact of U.S. sanctions, according to a report by