TechFlow reports that on June 25, CoinEx issued a statement in response to a related report by The Wall Street Journal, stating that the platform has never established commercial relationships with entities linked to the Iranian government, domestic Iranian exchanges, or other sanctioned parties, nor has it provided financial channels or assistance to such parties. CoinEx noted that it was placed on Iran’s blacklist as early as 2021, and its official domain is also blocked within Iran.
Regarding the transactions mentioned in the report, CoinEx stated that, based on currently available information, all such activities occurred prior to the U.S. Department of the Treasury’s imposition of sanctions. Concerning the Bybit hack incident, CoinEx confirmed that upon learning of the event, it assisted in freezing the relevant accounts and assets and will conduct an internal review of those transactions.
CoinEx further emphasized that the mere fact that on-chain funds flow through a particular platform does not imply that the platform is aware of, supports, or participates in the associated activities; a single on-chain analysis dataset should not be treated as conclusive evidence. In terms of compliance measures, CoinEx stated that it has enhanced identification of Iranian users, restricted access from relevant regions, upgraded its fund-tracking system, and continues to proactively remove accounts suspected of illicit activity.
