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CoinEx was blasted into Iran crypto channel worth $3.84 billion. They said: “I really don’t know.”
The Wall Street Journal dropped a big scoop: TRM Labs’ tracking found that over the past six years, Iranian entities transferred more than $3.84 billion via CoinEx to bypass U.S. sanctions. Of that, $2.7 billion was directly traded with Iran’s domestic exchange Nobitex, and the Iranian central bank’s $67 million also went through CoinEx’s systems.
Most awkward of all, since Binance started enforcing strict compliance in 2022, CoinEx has stepped in to take over the spot as Nobitex’s largest international channel. TRM calculated CoinEx’s illegal transaction ratio is 27 times the industry average…
CoinEx quickly issued a statement denying it, saying it has already started auditing, blocked Iranian IPs, and cleared related accounts. But CoinEx’s CET token fell by 9%+ today— the market voted with its feet.
⚠️ Note: At present, this is only reporting and data analysis; OFAC has not officially sanctioned CoinEx yet. But once this door is opened, compliance pressure on offshore exchanges will only grow.
#CET #CoinEx #Nobitex
The Wall Street Journal dropped a big scoop: TRM Labs’ tracking found that over the past six years, Iranian entities transferred more than $3.84 billion via CoinEx to bypass U.S. sanctions. Of that, $2.7 billion was directly traded with Iran’s domestic exchange Nobitex, and the Iranian central bank’s $67 million also went through CoinEx’s systems.
Most awkward of all, since Binance started enforcing strict compliance in 2022, CoinEx has stepped in to take over the spot as Nobitex’s largest international channel. TRM calculated CoinEx’s illegal transaction ratio is 27 times the industry average…
CoinEx quickly issued a statement denying it, saying it has already started auditing, blocked Iranian IPs, and cleared related accounts. But CoinEx’s CET token fell by 9%+ today— the market voted with its feet.
⚠️ Note: At present, this is only reporting and data analysis; OFAC has not officially sanctioned CoinEx yet. But once this door is opened, compliance pressure on offshore exchanges will only grow.
#CET #CoinEx #Nobitex
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