Iran’s Islamic Revolutionary Guard Corps (IRGC) reportedly moved about $1 billion in cryptocurrency through two UK-registered exchanges over the past two years, according to a report by blockchain intelligence firm TRM Labs.
Summary
- Investigators at TRM Labs, a blockchain intelligence firm, found that the IRGC used Tether (USDT) on the TRON blockchain to route funds.
- Exchanges called Zedcex and Zedxion collectively processed a large majority of the transactions.
- The flow of funds helped the IRGC sidestep traditional banking restrictions, directing money to affiliated groups and other sanctioned entities.
According to The Washington Post, the heavily sanctioned…
