Svmuu News: CoinEx issued a statement regarding the transactions involving Alireza Derakhshan and Zedcex/Zanjani mentioned in a recent report by The Wall Street Journal. Based on the information currently available, all relevant transactions took place before the U.S. Department of the Treasury imposed sanctions on the aforementioned entities. CoinEx does not provide services to any sanctioned entities or individuals, nor has it ever facilitated any transactions for such entities while knowing they were subject to sanctions. CoinEx has never established any commercial partnerships with entities affiliated with the Iranian government or domestic Iranian exchanges, nor has it ever provided funding channels or any form of active assistance to Iranian government agencies, entities affiliated with the Revolutionary Guards, or other sanctioned entities.
As early as 2021, CoinEx was blacklisted by the Iranian government, and its official domain was blocked within Iran. This fact alone demonstrates that CoinEx is not a platform officially recognized, supported, or partnered with by the Iranian government, nor does it have any practical basis for serving as an official funding channel for Iran. CoinEx has never established any offices or operational entities in Iran. While some individuals have spontaneously promoted CoinEx through the platform, this is not an action organized by CoinEx. CoinEx strongly opposes narratives that conflate the actions of ordinary users with state-level sanctions evasion, and rejects the inference that on-chain fund flows directly equate to the platform’s knowledge of, support for, or participation in illegal activities.
Regarding the Bybit hacking incident mentioned in the report, CoinEx assisted Bybit in blocking accounts and freezing assets immediately after the incident occurred. Furthermore, CoinEx will conduct an internal review of the relevant transactions mentioned in the report.
Following the imposition of sanctions on Iranian domestic exchanges such as Nobitex, CoinEx immediately initiated a comprehensive review of its exposure to risks related to Iran and began the process of withdrawing from the market, implementing the following measures:
Refusing to accept user registrations from Iran, strengthening user identification for Iranian users, and continuing to conduct compliance-based account closures for identified Iranian user accounts;
Implementing comprehensive geofencing and access restrictions for the Iranian region; accounts and assets of identified sanctioned entities or individuals will be restricted or frozen;
Strengthening the KYT system to enhance monitoring and review capabilities regarding transactions involving sanctioned regions, high-risk addresses, and anomalous on-chain paths, and freezing relevant transactions;
Continuing to identify and address accounts that abuse the platform for illegal activities, particularly those using CoinEx as a conduit for funds.
CoinEx places a high priority on compliance, anti-money laundering, and sanctions risks within the digital asset industry and believes it has a responsibility to provide clear and objective responses to its users and partners.