Yesterday, 12:54 PM
In early 2026, investigations revealed that Iran’s Islamic Revolutionary Guard Corps (IRGC) successfully laundered approximately $1 billion through the United Kingdom’s financial system between 2023 and 2025. This operation utilized a hybrid network of UK-registered cryptocurrency exchanges and traditional bank accounts to evade international sanctions and fund regional proxies.
1. Zedcex and Zedxion
The core of the digital evasion strategy involved two crypto exchanges incorporated in London: Zedcex Exchange Ltd and Zedxion Exchange Ltd.
Read More: https://cryptomry.com/how-iran-moved-1-b...gh-the-uk/
1. Zedcex and Zedxion
The core of the digital evasion strategy involved two crypto exchanges incorporated in London: Zedcex Exchange Ltd and Zedxion Exchange Ltd.
- While presenting themselves as legitimate platforms, these entities processed $1 billion in illicit flows, with IRGC-linked transactions accounting for up to 87% of their volume in 2024.
- The network primarily utilized Tether (USDT) on the TRON blockchain. This choice allowed for rapid, low-cost settlements that bypassed the US banking system and SWIFT monitoring.
- Blockchain forensics linked the operations to Babak Zanjani, a sanctioned Iranian billionaire known for managing the regime’s oil-for-cash networks. Zanjani was listed as a person of significant control for Zedxion, signaling direct state-level coordination.
Read More: https://cryptomry.com/how-iran-moved-1-b...gh-the-uk/