Author: Eric, Foresight News
Original Title: Iran's Trump Card Against U.S. Sanctions: Using Cryptocurrency to Evade Restrictions?
On January 15, Beijing time, Israeli news media Channel 14 reported that intelligence indicated Iranian elites transferred $1.5 billion out of the country via cryptocurrency within 48 hours. The son of Iran's Supreme Leader Khamenei alone moved $328 million to Dubai using cryptocurrency.
Iran has recently faced internal and external challenges. After dealing with Venezuela, Trump has set his sights on Iran. Although Trump hinted at suspending attacks on Iran in recent days, according to Axios, five sources from the U.S., Israel, and Arab countries familiar with the situation revealed that U.S. President Trump is delaying decisions on military strikes against Iran. The White House is currently consulting internally and with allies on the timing of the action and whether it would sufficiently destabilize the Iranian regime.
Amid external military threats, Iran is also in turmoil domestically. Since December 28, 2025, large-scale protests have erupted across Iran. According to data from the U.S. Institute for the Study of War, there were over 150 protests in Iran on January 8 alone, spanning 27 provinces. Armed clashes and attacks by ethnic minority militias on Islamic Revolutionary Guard Corps (IRGC) bases have been reported in some areas.
Economically, the Iranian rial has collapsed against the U.S. dollar, plummeting to approximately 1.34–1.4 million rials per dollar. Inflation has soared, with food prices rising by 60–70%. Combined with fuel price hikes and long-term sanctions, Iran's economy is on the verge of collapse.
In fact, the use of cryptocurrency to evade sanctions and transfer assets is not a recent development in Iran. From ordinary citizens to government leaders, this practice began as early as 2018. After the establishment of the local cryptocurrency exchange Nobitex, Iran's national-level entities, regime officials, and the IRGC started using cryptocurrency to bypass sanctions and access international markets. Additionally, Iran has leveraged its surplus oil and energy resources to power Bitcoin mining, converting energy into crypto assets.
Cryptocurrency advertisements on the streets of Iran
According to a Washington Post report from a week ago, the IRGC transferred approximately $1 billion worth of cryptocurrency through two UK-registered exchanges between 2023 and 2025. Using Zedcex and Zedxion, which are operated by the same entity, the IRGC successfully circumvented Western financial restrictions. Transactions related to the IRGC alone accounted for 56% of the trading volume on these two exchanges. Miad Maleki, a former U.S. Treasury official involved in Iran sanctions, stated that digital currencies are becoming financial channels for Iran's shadow banking system.
Meanwhile, private cryptocurrency exchanges have become increasingly popular among Iranian citizens. According to a 2025 field investigation by Foresight News, there is a nearly one-kilometer-long black market in Iran where many citizens engage in private currency exchange transactions.
Exchanging cryptocurrency for Iranian rials on the black market
Following the recent large-scale outward transfer of funds by Iranian elites, some privacy-focused cryptocurrencies have seen astonishing price surges. XMR reached a new all-time high, briefly touching $800. DASH rose over 120% in the past seven days, while DCR increased by nearly 70%. ZEN, FHE, ARRR, and others also saw significant gains.
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