Elliptic reports: OFAC sanctions Zedcex and Zedxion over Iran sanctions evasion and IRGC-related operations
In a post dated 2026-01-30, Elliptic says the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two UK-registered companies said to be operating as unauthorized crypto exchanges: Zedcex and Zedxion. The article headline claims the action relates to assisting Iranian sanctions evasion and IRGC-related operations. However, the provided excerpt states the action occurred “On January 30, 2025,” which conflicts with the publication timestamp (January 30, 2026) and increases the likelihood of an error or misstatement. The primary OFAC announcement and any sanctions list details (program, listing identifiers, aliases) are not included in the input facts. For AML/Compliance teams, this is potentially material due to the naming of specific entities and the Iran/IRGC framing. Until confirmed against official OFAC documentation, treat this as secondary reporting.
What to check
- Locate and confirm the primary OFAC release covering Zedcex and Zedxion (date, wording, legal basis).
- Resolve whether “January 30, 2025” in the excerpt is a mistake and what date is shown in official materials.
- Verify which identifiers/aliases/jurisdictional details for Zedcex and Zedxion appear in sanctions lists.
- Confirm whether OFAC explicitly references IRGC and provides specifics on the alleged Iran sanctions evasion activity.
Sources
Disclaimer
This content is based on publicly available sources and is provided for informational purposes only. Refer to primary sources and your internal compliance procedures before making decisions.