Core Insights - The report by TRM Labs indicates that the Islamic Revolutionary Guard Corps (IRGC) of Iran has transferred approximately $1 billion through two UK-registered cryptocurrency exchanges, Zedcex and Zedxion, since 2023 to evade international sanctions [1] Group 1: Financial Activities - IRGC-related transactions accounted for 56% of the total volume of the two exchanges from 2023 to 2025 [1] - The funds transferred by IRGC increased from approximately $24 million in 2023 to $619 million in 2024, and then to $410 million in 2025 [1] Group 2: Compliance and Response - Both exchanges claim to comply with anti-money laundering regulations but have not responded to requests for comments [1]