Traced flows exceeding $3.84 billion link CoinEx directly to sanctioned Iranian players across seven years of steady blockchain movement.
TRM Charts CoinEx Iran Ties 🕷️
Fresh data from TRM Labs shows the four newly hit exchanges made up roughly $7.7 billion or 78 percent of Iran’s total attributed crypto flow for 2025. Volumes stayed elevated even after prior enforcement waves. CoinEx itself processed more than $79 billion overall.
This platform founded back in 2017 now stands as Nobitex’s biggest external counterparty. Over $2.7 billion has flowed between them via 6.2 million on-chain transfers since late 2018 averaging roughly $1 million daily. Nobitex net-sent about $360 million extra suggesting consistent outward routing from Iran. 🖤 Volumes climbed from $13 million in 2020 to $575 million in 2021 dipped then rebounded to $714 million in 2024 and $763 million in 2025.
Direct connections reach more than 60 Iranian platforms including Wallex Ramzinex BitPin and others with similar volume shares indicating coordinated patterns rather than random activity. Another $67 million from Iran’s Central Bank reached CoinEx through layered laundering involving multiple chains bridges Gnosis Safe and Aave tokens between June 2025 and June 2026. ViaBTC mining activity tied to the same parent group moved over $154 million toward Nobitex-linked wallets mostly in one direction.
Pattern Shifts After Escalation 🌙
TRM also spotted CoinEx exposure to IRGC-linked wallets Hezbollah Garantex Bitzlato ransomware and mixers. Following intensified US-Iran-Israel tensions average transfer sizes jumped and bigger deals became routine. Post-OFAC sanctions volumes dropped yet private accounts may keep flows hidden from public view.
CoinEx stated no ties exist to the Iranian government or sanctioned parties and denied any funding or support while noting on-chain data alone proves nothing.
CoinEx has never had any relationship with the Iranian government or sanctioned entities and has never provided funding or support to them.
— CoinEx (@coinexcom) embed
Just another echo from the void by iconofsin.eth 💖
