TRM Labs points out: Over $1 billion in Iranian cryptocurrency transfers via UK-registered exchanges

DYORMaster · 2026-01-21T14:23:05+00:00

A TRM Labs report reveals that the Iranian Revolutionary Guard Corps has been using UK-registered cryptocurrency exchanges to evade international sanctions through large-scale illicit transactions. Since 2023, 56% of the trading volume on these exchanges was connected to the IRGC, primarily using USDT on the Tron blockchain for its low fees and speed. This analysis underscores the importance of blockchain technology for tracking complex illicit schemes in the cryptocurrency industry.

DYORMaster

2026-01-21 14:23:05

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A new investigation report by blockchain analytics company TRM Labs has revealed that the Iranian Revolutionary Guard Corps (IRGC) has been conducting large-scale illegal cryptocurrency transfers through UK-registered cryptocurrency exchanges to evade international sanctions. This transfer scheme has been ongoing for several years, indicating a more serious situation than previously imagined.

Organized Fund Movements Aimed at Sanctions Evasion

TRM Labs’ analysis has shown that over the past few years, IRGC-related transaction activities have been concentrated on two UK-registered exchanges, Zedcex and Zedxion. It has also uncovered the startling fact that from 2023 to 2025, IRGC-related transactions accounted for 56% of the total trading volume on both exchanges. This figure highlights how central these exchanges have been in illicit fund transfers.

Clever Cryptocurrency Transfer Methods Using USDT and Tron Network

Notably, most of these illegal cryptocurrency transfers were executed using USDT (Tether) on the Tron blockchain. The Tron network’s low transaction fees and fast transfer speeds make it an ideal platform for organizations seeking to evade sanctions. Since USDT is a stablecoin, it allows for large-scale fund movements while avoiding price fluctuation risks.

Illicit Activities Uncovered by Blockchain Analysis Technology

TRM Labs’ recent report exemplifies how advanced blockchain analysis techniques can track complex illicit transfer schemes. It demonstrates once again the importance of transparency and enhanced monitoring systems in the cryptocurrency industry.

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