The Iranian Revolutionary Guard transferred approximately $1 billion through a UK-based cryptocurrency exchange.
AI Summary1 min read
TL;DR
Iran's Revolutionary Guard moved around $1 billion via UK crypto exchanges Zedcex and Zedxion since 2023 to evade sanctions, with IRGC transactions making up 56% of their volume, primarily using USDT on Tron.
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ZEDXIONTRONLayer 1SEC Security TokenIranian Revolutionary Guardcryptocurrencysanctions evasionTRM LabsUK exchanges
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)