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Babak Zanjani Network — Expanded OFAC Designations (July 2026)

avoid.net/babak-zanjani-network-expanded-ofac-designations-july-2026→0/100·97% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·4XYBrJ…tx5k

Summary

On July 24, 2026, the U.S. Treasury's Office of Foreign Assets Control (OFAC) designated four individuals and nine entities comprising the commercial support structure behind Iranian financier Babak Zanjani's sanctions evasion network. The action extended a January 30, 2026 designation of Zanjani and his two UK-registered digital asset exchanges, Zedcex Exchange Limited and Zedxion Exchange Limited, which had processed over $94 billion in transactions since 2022 and transferred funds to IRGC-linked and Houthi-affiliated wallets. The July 2026 expansion targeted Istanbul- and Dubai-based fintechs, Iranian conglomerate subsidiaries, and family members of Zanjani who provided material, technological, and financial support to the exchanges.

Connected Entities

8 entities · 10 linked investigations
Wallets
◇TCzq6m…WYKC◇TGsNFr…vmEx◇TCA9vm…xJAv◇TTS9o5…vSNa◇TLvuvp…UroE◇TASWbk…fJy8◇TNuA5C…MbQ7
Organizations
□Babak Zanjani Network — Expanded OFAC Designations (July 2026)
Relationships
  • TNuA5CQ6LB4jTHoNrjEeQZJmcmhQuHMbQ7→mentioned with→Babak Zanjani Network — Expanded OFAC Designations (July 2026)(50%)
  • TASWbk6X1wiTku5TMmMQYqYFvshVEtfJy8→mentioned with→Babak Zanjani Network — Expanded OFAC Designations (July 2026)(50%)
  • TCA9vmjsYw9MtPKEwRBtGhKFRfr4CLxJAv→mentioned with→Babak Zanjani Network — Expanded OFAC Designations (July 2026)(50%)
  • + 9 more
Also appears in
edgeX Exchange·28Saga EVM Blockchain·32Mach-O Man Malware Campaign (Lazarus / Chollima)·0Trenton Richard Johnston·2Q2 2026 DeFi Record Hack Wave·0Gamma Strategies·28Bunni Protocol·28Interpol Operation First Light 2026 — $123M Romance Scam Crypto Network·0BonkDAO Treasury Governance Attack (July 2026)·0Shunda Park Scam Compound·0

Connected Through

1 shared actor · 1 investigation

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about Babak Zanjani Network — Expanded OFAC Designations (July 2026)?

Timeline(12 events)

2013

Babak Zanjani arrested in Iran for allegedly withholding $2.7 billion owed to the Ministry of Petroleum from oil sanctions evasion activities.

Wikipedia / News archives

6 March 2016

Iranian court sentences Zanjani to death for embezzlement and 'spreading corruption on earth' linked to funds taken from the National Iranian Oil Company.

HuffPost / Reuters

2022

Zedcex Exchange Limited and Zedxion Exchange Limited registered in the United Kingdom; Babak Zanjani listed as controller under alias 'Babak Morteza' in UK filings.

OCCRP investigation

March 2022

Zedcex and Zedxion release marketing video featuring 'Elizabeth Newman' as executive director, a fabricated persona using stock footage of a model.

OCCRP investigation

24 May 2022

Zedpay Finansal Sistem Ve Hizmetleri Anonim Sirketi registered in Turkey as a computer programming business; later integrated as payment processor for Zedxion.

Turkish Minute / US Treasury

August 2022

Babak Zanjani removed from Zedcex/Zedxion UK company records as listed controller, replaced by the fictitious 'Elizabeth Newman' persona.

OCCRP investigation

30 April 2024

Iran commutes Zanjani's death sentence to 20 years of imprisonment following the alleged repatriation of approximately $2.1 billion in assets.

Kharon / News archives

April 2025

Dot One Rail Company announces $800 million contract with Islamic Republic of Iran Railways; Zanjani promotes the deal on social media.

U.S. Treasury press release

June 2025

Tether blacklists one of the TRON wallet addresses subsequently designated by OFAC in connection with Zedcex.

Elliptic analysis

30 January 2026

OFAC designates Babak Zanjani, Zedcex Exchange Limited, and Zedxion Exchange Limited; seven TRON wallet addresses included. First-ever OFAC designation of IRGC-linked digital asset exchanges.

U.S. Department of the Treasury

27 February 2026

OCCRP publishes 'The Cat and the Stock-Footage CEO' investigation exposing the fake Elizabeth Newman CEO persona and Solmaz Bani's operational ties via shared social media content.

OCCRP

24 July 2026

OFAC designates four individuals (Mehdi Rezazadeh, Sukhrob Oimakhmadov, Bahareh Morteza Zanjani, Solmaz Bani) and nine entities including Dot One Value Creation Group, DotOne Gold Company, DotOne Rail Company, DotOne Barter Company, DotOne Airlines Company, DotOne Trip, Zedpay, Zedx DMCC, and BZ Diamond FZCO under Executive Order 13902.

U.S. Department of the Treasury
Provenance & Audit Trail
Anchored on SolanaVerify on-chain22 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 22 of 23 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 7/29/2026, 5:26:58 PM

last updated: 8/27/2026, 2:07:17 AM

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