The Wall Street Journal said public blockchain data tied CoinEx-hosted wallets to hacked assets linked to Iran's central bank, accounts previously identified by U.S. officials with the IRGC, and Iranian oil-sales networks.
Iran-linked entities moved more than $3.84 billion through crypto exchange CoinEx since 2019, The Wall Street Journal reported, citing public blockchain data analysis. The newspaper said CoinEx custody wallets received hacked crypto assets obtained by Iran's central bank, transacted directly with accounts previously tied by U.S. officials to the Islamic Revolutionary Guard Corps, and handled flows tied to sanctioned Iranian oil sales networks from 2022 to 2025. The findings add detail to earlier reporting that positioned CoinEx as a key crypto channel allegedly used by Iran-linked actors, underscoring both the role of exchanges in cross-border digital-asset flows and the traceability of blockchain-based transactions.