Iranian entities have conducted over $3.84 billion in transactions through the cryptocurrency exchange CoinEx, according to an analysis of public blockchain data. This activity has drawn scrutiny as some of these entities are under sanctions.
The findings suggest that CoinEx has become a substantial platform for Iranian financial operations, including those involving illicit or sanctioned activities. The sheer volume of funds processed highlights the role of cryptocurrency exchanges in facilitating international financial flows, even for entities subject to economic restrictions.