- The US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four individuals for helping Iran’s IRGC-Qods Force and Ministry of Defense evade sanctions.
- Sanctioned individuals coordinated cryptocurrency transfers linked to Iranian oil sales, involving hundreds of millions of dollars.
- Elliptic updated its blockchain analytics to help users screen and trace funds tied to these sanctions.
- The effort is part of a broader US move to disrupt Iranian oil smuggling and sanction evasion, including recent designations and listings by Israeli authorities.
On September 16, 2025, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four individuals, including Alireza Derakhshan and Arash Estaki Alivand, for coordinating fund transfers benefiting the Islamic Revolutionary Guards Corps’ Qods Force (IRGC-QF) and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL). The sanctions come as part of US efforts to block Iranian oil-related financial activities.
According to OFAC, Alivand’s cryptocurrency addresses have received approximately $300 million while Derakhshan’s addresses have received around $442 million, primarily in the USDT stablecoin. These individuals facilitated over $100 million in cryptocurrency purchases using proceeds from Iranian oil sales, employing a network of front companies across multiple countries to launder money.
Elliptic has taken steps to ensure that blockchain addresses linked to these sanctioned individuals are available for screening and tracing using its advanced Holistic blockchain analytics technology. This allows users to avoid processing funds connected to the sanctioned individuals.
OFAC’s release details that Alivand also conducted transactions with Tawfiq Muhammad Sa’id al-Law, a money changer linked to Hezbollah who helps provide access to digital wallets used for IRGC-QF-related funds. Derakhshan is tied to several sanctioned front companies, including Paul AD Sons Trading FZE and Minato Investment L.L.C.
These designations align with wider US actions aimed at disrupting Iranian oil smuggling and sanction evasion. Earlier in September 2025, OFAC designated additional individuals, entities, and vessels linked to Iranian oil smuggling. On September 15, the Israeli National Bureau for Counter Terror Financing (NBCTF) listed 187 cryptocurrency addresses associated with the IRGC.
Blockchain technology’s transparency plays a significant role in tracking illicit financial flows. When governments and industry collaborate quickly and accurately, they enhance customer safety and uphold the integrity of digital asset ecosystems.
For more details, see OFAC’s press release and recent sanction actions.
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