TRM Labs Says CoinEx Processed $3.84 Billion In Iran-Linked Crypto Flows
TRM Labs says CoinEx processed about $3.84 billion in crypto transactions linked to Iranian users and entities over several years, raising concerns about sanctions compliance and exchange screening. The report suggests CoinEx may have served as a major gateway for Iran-related activity, despite restrictions on sanctioned jurisdictions. The broader issue is whether centralized exchanges are doing enough beyond basic KYC, including IP restrictions and transaction monitoring, to stop large-scale flows tied to restricted markets. The findings add to growing scrutiny of crypto exchanges as enforcement focus shifts from mixers and DeFi to centralized platforms that connect users to liquidity and fiat rails. The case also highlights the increasing role of blockchain analytics firms in sanctions enforcement, since their reports can influence regulators, exchanges, and market sentiment before formal action occurs.
