Iranian Military Unit Moves $1B in Crypto Through UK Exchanges
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 11 2026- Scale of Fund Transfers: According to a report by TRM Labs, a sanctioned Iranian military unit moved approximately $1 billion in cryptocurrency through two UK-registered exchanges, highlighting the increasing significance of digital assets in circumventing international sanctions.
- Trading Volume Analysis: Between 2023 and 2025, transactions linked to the military unit accounted for an average of 56% of total trading volume on the two exchanges, peaking at 87% in 2024, indicating its substantial influence on the market.
- Compliance Failures: Despite claims on their websites prohibiting users from sanctioned jurisdictions and implementing anti-money laundering controls, the exchanges continued to process transactions linked to the Iranian military unit, revealing significant compliance failures that could lead to stricter regulatory scrutiny.
- Role of Digital Assets: The report notes that cryptocurrency has become a core component of Iran's shadow financial system, enabling sanctioned entities to sustain operations even as pressure on traditional financial channels intensifies, reflecting the complexities of the crypto market in global finance.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
