According to a report by blockchain analytics firm TRM Labs on January 11, the Iranian Islamic Revolutionary Guard Corps (IRGC) has been transferring approximately $1 billion through two UK-registered cryptocurrency exchanges, Zedcex and Zedxion, since 2023 to circumvent international sanctions. IRGC-related transactions accounted for 56% of the total transactions on these two exchanges between 2023 and 2025, mostly using USDT on the Tron network. The funds grew from approximately $24 million in 2023 to $619 million in 2024 and $410 million in 2025. Both exchanges claim to comply with anti-money laundering regulations but did not respond to requests for comment. (The Block)
The Iranian Revolutionary Guard transferred approximately $1 billion through a UK-based cryptocurrency exchange.
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