WSJ: Iranian Entities Conducted Over $3.84 Billion in Transactions via CoinEx

CoinFeed June 25 news, according to Wall Street Journal reports, based on public blockchain data analysis, Iranian entities conducted over $3.84 billion in transactions through the cryptocurrency exchange CoinEx. Investigations found that suspicious transactions earlier this year linked to two digital wallets controlled by the Central Bank of Iran had funds that could be traced back to $1.5 billion stolen by North Korean hackers from Bybit. After arriving at the Iranian wallets, the funds passed through a complex maze of transactions before ultimately flowing to CoinEx — which has become a key channel for Iran to use cryptocurrencies to bypass broad U.S. economic sanctions.