Iran Moved $3.84B Through CoinEx to Bypass US Sanctions: WSJ
According to a Wall Street Journal report, Iran allegedly routed approximately $3.84 billion through the crypto exchange CoinEx to facilitate international transactions and circumvent U.S. sanctions.
The Wall Street Journal reported that Iran used the cryptocurrency exchange CoinEx to move roughly $3.84 billion, aiming to bypass U.S. economic sanctions. The alleged transactions allowed Tehran to conduct international trade outside the traditional banking system.
CoinEx, a Hong Kong-based exchange, has not publicly commented on the allegations. The report highlights ongoing concerns about crypto platforms being exploited to evade sanctions, particularly by state actors.
This development underscores the regulatory scrutiny faced by centralized exchanges and the broader push for stricter anti-money laundering controls in the crypto space.
Source: First Squawk