TRM Labs said it traced $3.8 billion in flows from 60 sanctioned Iranian entities through crypto exchange CoinEx. The firm also said CoinEx’s 8% share of illicit transactions was substantially higher than comparable exchanges.
TRM Labs said it traced $3.8 billion in flows from 60 sanctioned Iranian entities through crypto exchange CoinEx. The firm also said CoinEx’s 8% share of illicit transactions was substantially higher than comparable exchanges.
The findings matter because sanctions exposure and illicit-finance controls remain central risks for crypto exchanges. For users, companies and regulators, the report highlights how transaction monitoring, compliance standards and exchange oversight can affect confidence in crypto market infrastructure.
TRM Labs said it traced $3.8 billion moved by 60 sanctioned Iranian entities through CoinEx, according to Cointelegraph. The blockchain intelligence firm also said the crypto exchange’s 8% share of illicit transactions was substantially higher than that of its counterparts.
The findings matter because sanctions exposure and illicit-finance controls remain central risks for crypto exchanges. For users, companies and regulators, the report highlights how transaction monitoring, compliance standards and exchange oversight can affect confidence in crypto market infrastructure.
CoinEx was identified in the report as a venue through which the traced funds moved. The source material does not state whether the exchange responded to TRM’s findings or describe specific enforcement action tied to the reported flows.
The report adds to broader scrutiny of crypto platforms that may be used by sanctioned actors. While blockchain transactions can be traceable, the case underscores the ongoing challenge of preventing restricted entities from accessing global digital asset markets.
TRM’s figures, as reported, focus on traced activity linked to sanctioned Iranian entities and the share of illicit transactions attributed to CoinEx. The claims should be read as findings from the blockchain analytics firm rather than as a court determination.
Keep exploring
Bitget plans to exit the Japanese market and close all remaining positions by the end of the year. The move adds to ongoing shifts among crypto companies navigating Japan’s regulatory environment.
Read
CoinDesk’s State of Crypto coverage counts down recent developments shaping the crypto policy and market landscape. The report frames these changes as important for how companies and participants navigate the sector.
Read
Strategy said it is holding the dividend on its STRC preferred stock at 12%. The decision keeps the payout unchanged for investors in the company’s yield-focused security.
Read