In brief
- TRM Labs said it uncovered over $3.84 billion in crypto flows between CoinEx and more than 60 sanctioned Iranian platforms over a seven-year period.
- The exchange rejected the allegations, arguing that it is a neutral global platform serving ordinary users, with no official ties to Iranian entities.
- The confrontation comes amid U.S. enforcement, marked by sanctions against Iran’s largest crypto exchange and a $1 billion Bitcoin seizure.
CoinEx denied allegations on Thursday that the Seychelles-based crypto exchange knowingly served as a conduit for billions of dollars in sanctioned Iranian funds, pushing back against a report from The Wall Street Journal that leaned heavily on analysis from TRM Labs.
The crypto analytics firm…
