𝗦𝗵𝗔𝗶𝗗𝗶 🤿

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[MEXC @MEXC]

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[MEXC @MEXC]

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[CoinEx Global @coinexcom]

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[CoinEx Global @coinexcom]

CoinEx Official Statement Regarding The Wall Street Journal Report

CoinEx is aware of the recent report published by The Wall Street Journal. We fully respect media oversight and press freedom, and understand the public's heightened concern regarding compliance, anti-money laundering, and sanctions risks in the digital asset industry. We take this matter very seriously and believe we have a responsibility to provide a clear and objective response to our users and partners.

Regarding CoinEx's Relationship with Iran

CoinEx is a digital asset exchange serving ordinary users worldwide. We have never established any commercial relationship with Iranian government-related entities or Iranian domestic exchanges, nor have we ever provided funding channels or any form of active assistance to Iranian government agencies, Revolutionary Guard-related entities, or other sanctioned parties.

It is important to note that CoinEx was blacklisted by the Iranian government as early as 2021, with its official domain blocked within Iran. This fact alone demonstrates that CoinEx is not a platform recognized, supported, or partnered with by Iranian authorities, nor does it have a realistic basis to serve as an official Iranian funding channel.

CoinEx has never established any office or operating entity in Iran. CoinEx operates a referral commission program open to all users globally, and some individuals independently used this program to promote CoinEx. This was not an activity organized by CoinEx.

We firmly reject any narrative that conflates ordinary user activity with state-level sanctions evasion, and any inference that equates on-chain fund flows with platform knowledge of, support for, or participation in illicit activity.

Regarding Specific Matters Referenced in the Report

With respect to the transactions involving Alireza Derakhshan and Zedcex/Zanjani referenced in the report, based on the information currently available to us, the relevant transactions all occurred prior to the U.S. Treasury Department's designation of these entities. We do not provide services to any sanctioned entity or individual, and have never knowingly provided any form of facilitation to any party after it was designated.

Regarding the Bybit theft referenced in the report, CoinEx assisted Bybit with account blocking and asset freezing immediately upon learning of the incident, and we will conduct an internal review of the transactions mentioned in the report. CoinEx itself was the victim of a cyberattack in 2023, attributed by multiple investigations to a North Korea-affiliated group, resulting in losses of approximately USD 80 million. We are acutely aware of the enormous harm that malicious cybercrime inflicts on the crypto industry and user assets, and our interests and position are fully aligned with global law enforcement and on-chain security organizations in combating hacking and tracing stolen funds. Any suggestion that CoinEx intentionally condoned or assisted in money laundering by hackers is contrary to the facts and fundamentally at odds with our core values and interests.

Regarding the Interpretation of On-Chain Data

Blockchain transactions are open, cross-platform, and traceable by nature. The fact that funds have passed through a platform on-chain does not mean that the platform was aware of, supported, or participated in the related fund activity. Data from different third-party blockchain analytics platforms varies significantly, and data from any single platform should not be treated as definitive. On-chain attribution is inherently a methodology with limitations, and its conclusions depend largely on interpretation. Furthermore, combining bidirectional fund flows into a single aggregate figure and presenting it as the amount "processed" by CoinEx is highly misleading.

Regarding Recent Measures Taken

Following the sanctioning of Iranian domestic exchanges, CoinEx immediately initiated a comprehensive review and exit process for all Iran-related risk exposure, and implemented the following measures:

- Strengthened identification of Iranian users, refused user registrations from Iranian regions, and initiated ongoing compliance off-boarding for accounts identified as belonging to Iranian users;
- Implemented comprehensive geo-fencing and access restrictions for Iranian regions; accounts and assets of any identified sanctioned entity or individual will be restricted or frozen;
- Enhanced the KYT system to improve monitoring and review capabilities for sanctioned regions, high-risk addresses, and anomalous on-chain transaction paths, and to freeze related transactions;
- Continued to identify and take action against accounts abusing the platform for illicit activity, particularly those using CoinEx as a fund transit point.

Regarding Our Future Commitment

The digital asset industry continues to develop rapidly, and the global regulatory environment is continuously evolving. As with the industry at large, CoinEx's anti-money laundering and transaction monitoring capabilities are continuously being strengthened. We will continue to invest resources in enhancing our KYC, AML, sanctions screening, and on-chain risk monitoring capabilities, respond to concerns from all parties in a responsible manner, and welcome review by relevant authorities.

CoinEx Global
25th June 2026