IRGC Transfers $1 Billion via Cryptocurrency Since 2023, Report Reveals
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Scale of Transfers: The Iranian Revolutionary Guard Corps (IRGC) has transferred up to $1 billion through cryptocurrency exchanges since 2023, highlighting its financial resilience and secrecy under international sanctions, which could pose a threat to global financial security.
- Platform Analysis: TRM Labs found that 56% of transactions on the Zedcex and Zedxion exchanges were linked to IRGC wallets, indicating these platforms play a significant role in clandestine financial activities, potentially attracting regulatory scrutiny.
- Growth Trend in Transfers: IRGC's fund transfers surged from $24 million in 2023 to $619 million in 2024, with projections of $410 million in 2025, demonstrating a trend of leveraging cryptocurrency as a complex shadow banking network.
- Compliance Issues: While both exchanges claim compliance with anti-money laundering laws, Zedcex prohibits Iranian users, whereas Zedxion does not, reflecting regulatory gaps in the cryptocurrency market that necessitate enhanced oversight to prevent illicit financial flows.
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.
