zedcex

According to the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) has sanctioned two digital asset exchanges, Zedcex Exchange and Zedxion Exchange, for the first time due to their connections with Iranian businessman Babak Morteza Zanjani. This marks the first time that OFAC has sanctioned digital asset exchanges for operating in the Iranian economic and financial sector.Since its registration in August 2022, Zedcex has processed over $94 billion in transactions. Multiple addresses from these two exchanges have previously handled funds for wallets associated with the Islamic Revolutionary Guard Corps (IRGC) in Iran. Additionally, OFAC has sanctioned several Iranian officials, including Iranian Interior Minister Eskandar Momeni Kalagari, accusing them of being responsible for domestic violence repression in Iran.

According to a report by The Block, a recent analysis by TRM Labs shows that since 2023, the Islamic Revolutionary Guard Corps (IRGC) of Iran has transferred approximately $1 billion using two UK-registered cryptocurrency exchanges, Zedcex and Zedxion, to evade international sanctions.From 2023 to 2025, transactions related to the Islamic Revolutionary Guard Corps (IRGC) accounted for 56% of the total trading volume on the exchanges, with the vast majority of transactions conducted in USDT on Tron.