WSJ Report: Iran-Linked Entities Moved $3.84B Through CoinEx

According to a Wall Street Journal report citing blockchain data analysis, entities linked to Iran moved more than $3.84 billion through cryptocurrency exchange CoinEx, which investigators identified as a key channel allegedly used to circumvent U.S. sanctions.

The findings stem from an investigation conducted earlier this year that flagged unusual transactions involving two wallets tied to Iran’s central bank. Further tracing of those transactions reportedly uncovered connections to funds associated with the $1.5 billion Bybit hack, which has been attributed to North Korean hackers.

Source: The Wall Street Journal