Verify a decision

{"actor":"system:backfill","investigation_id":"14bf8dd1-4163-4b7a-a348-77377ce25ab1","kind":"publish","page_slug":"million-exchange","published_at":"2026-11-08T15:26:51.730Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Million Exchange","sections":[{"content":"The US Treasury press release sb0686 states that OFAC designated Million Exchange (Diverse Trade Inc) on 2026-11-06, under Executive Order 13902, which targets the Iranian digital asset sector. The press release describes Million Exchange as an Ontario-based money services business offering Iranian rial exchange and digital asset management. Seven other entities were designated in the same action: 1380079 BC Limited (Amin Exchange), Top PC Technician Inc, NIA Nations Currency Ltd, Farah Exchange (2397639 Ontario Ltd), CCC Inc, B Galaxy Inc (Cryptoyal), and Darvish Exchange. Note: the phrase 'Operation Economic Outcast' and the exact SDN list entry were relayed via the intake context and the press-release summary; the SDN list entry itself was not independently retrieved in this investigation.","heading":"OFAC designation (confirmed by primary source)","severity":"critical","sources":[{"credibility":1,"name":"US Treasury press release sb0686","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0686/"}]},{"content":"According to Treasury, addresses associated with Million Exchange allegedly sent funds worth hundreds of thousands of dollars to addresses tied to the IRGC or other terrorism-related addresses. Treasury also states that Million Exchange laundered drug proceeds by using cash from drug sales to buy digital assets for drug dealers, and that Ryan Wedding, a Canadian drug trafficker, allegedly laundered proceeds through the firm and directed certain digital assets purchased with drug cash to be sent abroad. These are Treasury's allegations in a sanctions designation; no criminal conviction of the entity was identified in this research.","heading":"Alleged IRGC-linked transfers and drug-proceeds laundering","severity":"critical","sources":[{"credibility":1,"name":"US Treasury press release sb0686","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0686/"}]},{"content":"The press release page as retrieved does not list specific digital asset addresses for Million Exchange. Any addresses on the OFAC SDN list entry were not confirmed here and should be checked directly on OFAC's Sanctions List Search. The ZachXBT Telegram post (t.me/zachxbt/377) was cited in the intake context but was not independently fetched. Independent news coverage of this specific action was not found in the searches run (a general search returned only unrelated OFAC Iran actions, such as the January 2026 Zedcex and Zedxion designations).","heading":"On-chain addresses and unverified items","severity":"medium","sources":[{"credibility":3,"name":"ZachXBT Telegram post (cited in intake, not independently fetched)","type":"social_media","url":"https://t.me/zachxbt/377"}]}],"sources_used":[{"credibility":1,"name":"US Treasury press release sb0686","type":"regulatory","url":"https://home.treasury.gov/news/press-releases/sb0686/"},{"credibility":3,"name":"ZachXBT Telegram post","type":"social_media","url":"https://t.me/zachxbt/377"}],"summary":"Million Exchange (legal entity Diverse Trade Inc) is an Ontario, Canada-based money services business that the US Treasury's OFAC designated on 2026-11-06 as part of an action against eight Canada-based exchange/OTC businesses (described as Operation Economic Outcast). Treasury alleges the firm sent hundreds of thousands of dollars to IRGC-linked addresses and laundered drug proceeds for Canadian trafficker Ryan Wedding. No on-chain addresses appear on the Treasury press release page as retrieved.","timeline":[{"date":"2026-11-06","event":"OFAC designates Million Exchange (Diverse Trade Inc) and seven other Canada-based businesses under E.O. 13902.","source":"US Treasury press release sb0686","source_url":"https://home.treasury.gov/news/press-releases/sb0686/"},{"date":"2026-11-08","event":"ZachXBT shares the designation on Telegram.","source":"ZachXBT Telegram","source_url":"https://t.me/zachxbt/377"}]},"v":1}