CoinEx Tied to $3.84B in Iranian Crypto Transactions Linked to Bybit Hack

Blockchain investigators have uncovered $3.84 billion in cryptocurrency transactions between CoinEx and entities linked to Iran's central bank.

The analysis revealed that funds stolen during the $1.5 billion Bybit hack moved through multiple blockchain wallets before reaching CoinEx, a development that has raised concerns about U.S. sanctions, enforcement scrutiny, and broader crypto security risks.

According to reports, investigators traced the movement of funds backward from two wallets controlled by the Central Bank of Iran, identifying a trail of transactions that intersected with Bybit hack funds.