Security research firm TRM Labs has flagged Seychelles-based global crypto exchange CoinEx as a key enabler for Iran-linked illicit capital flows.  According to TRM Labs, over $3.8 billion was traded between CoinEX and the four Iranian crypto exchanges, including Nobitex, which were sanctioned by the U.S. earlier this month. Out of the nearly $4 billion flagged flows, over half of the funds were routed from Nobitex, at an average of $1M per day since 2018.