WSJ: Iran-linked wallets transfer over $3.84 billion in assets through CoinEx

According to Twitter, wallets clearly linked to Iran have transferred more than $3.84 billion in trading capital through cryptocurrency exchange CoinEx since 2019. Among them, the wallet hosted by CoinEx received hacked crypto assets obtained by Iran's central bank and directly traded with accounts previously classified by US officials in the Islamic Revolutionary Guard Corps of Iran.

According to blockchain data, CoinEx replaced Binance as Iran's largest foreign counterparty to Nobitex, Iran's largest domestic crypto exchange, in 2024. Financial transactions between Nobitex and CoinEx last year surpassed $763 million. Additionally, between 2022 and 2025, the CoinEx-hosted wallet also processed transactions for Alireza Derakhshan, an Iranian suspected of being involved in a sanctioned oil sales network. (WSJ)