TRM Labs Traces $16.8 Million Across 30 Sanctioned Iran-Linked Crypto Wallets

Roughly $16.8 million flowed into 30 cryptocurrency addresses tied to members of Iran’s Mabna Institute, according to blockchain intelligence firm TRM Labs. The US Treasury listed those addresses as part of a wider action against Iran.

One defendant’s wallets received 92% of that total. Iran’s Mabna Institute Wallets Took In $16.8M, TRM Labs Says The designated addresses span Bitcoin (BTC), Ethereum (ETH), and TRON (TRX).

They belong to four of the 17 defendants also named in a superseding indictment unsealed by the Department of Justice (DOJ). Activity on the wallets dates back to January 2018. According to TRM, Keyvan Fayaz controlled 10 of the addresses.

Those wallets received a combined $15.5 million between January 6, 2018, and August 20, 2026. That figure represents 92% of the network’s total on-chain volume. TRM said the concentration suggests Fayaz may have functioned as a treasury for the operation.