The Ballymena fighter still won the bout against his Mongolian opponent
Two Irish boxers have been severely reprimanded by the IOC over betting at the Olympic Games.
Steven Donnelly and Michael Conlan, along with Great Britain's Anthony Fowler were all sanctioned but the IOC added, "there was no intent to manipulate any event" by any of the three.
Donnelly won twice in Rio before being knocked out by eventual bronze medallist Mohammed Rabii. Conlan also reached the quarter-finals where he controversially lost to Vladimir Nikitin.
In the IOC's ruling on the decisions they claimed that: "Donnelly placed a large number of cumulative bets ─ eight altogether ─ on various boxing events at the Rio Olympic Games, two of which were on his own match against Tuvshinbat Byamba. The Athlete had bet that his opponent would win. The bets placed were of a relatively low amount of money, yet they had created opportunities to make large amounts of money if they had been successful."
The Welterweight admitted he signed anti-betting rules without reading them, and was unaware he was doing anything wrong.
Conlan did not bet on any fights involving himself, but did place bets on fights in his weight class. No bet was bigger than £200, and all of them lost.
The news comes as further embarrassment to the IABA after Michael O'Reilly was sent home before the Games for failing a drugs test.
Both Conlan and Donnelly will take part in education programmes organised to help athletes regarding betting. The duo have also confirmed their intention to turn professional in recent weeks.
You can read the decisions on all three fighters here.