4 CrI3 + 96 KOH + 41 Cl2 → K2Cr4 + 12 KIO4 + 82 KCl + 48 H2O
This is an oxidation-reduction (redox) reaction:
12 I-I - 96 e- → 12 IVII (oxidation)
82 Cl0 + 82 e- → 82 Cl-I (reduction)
4 CrIII + 14 e- → 4 Cr-1/2 (reduction)
CrI3 is a reducing agent, Cl2 is an oxidizing agent, CrI3 is an oxidizing agent.