According to CoinMeta, since 2018, 30 cryptocurrency wallets associated with Iran’s Mabna research institute have received approximately $16.8 million in funds. On August 24, the U.S. Treasury Department announced sanctions that listed digital assets as part of Iran’s economically sanctionable sectors, with the aim of restricting cryptocurrency activities related to Iran. TRM Labs found that among the funds that flowed into these wallets, about $202,662 (about 1%) were still present at the time of analysis. The majority of the activity was concentrated in wallets related to Keyvan Fayaz; ten addresses received approximately $15.5 million between January 6, 2018, and August 20, 2026, accounting for 92% of the total online transaction volume on the network.