Million Exchange
Canadian money services business (Diverse Trade Inc) designated by US Treasury.
Million Exchange has been under US sanctions since 6 November 2026. Treasury alleges the Ontario business sent funds to IRGC-linked addresses and bought digital assets with drug cash, including for Ryan Wedding.
Last refreshed: 8 November 2026 · Appears in 1 active topic
Why does Treasury tie one Ontario exchanger to both IRGC wallets and drug money?
Timeline for Million Exchange
US blacklists eight exchangers in Canada
Iran Conflict 2026Background
Million Exchange is the trading name of Diverse Trade Inc, also listed as Million Money Exchange and Millionex. OFAC's entry gives addresses in Richmond Hill and Toronto in Ontario and in Montreal, Quebec, and an establishment date of 7 May 2018.
OFAC designated the business on 6 November 2026 under Executive Order 13902, which targets Iran's crypto trade. Treasury says Million advertises rial exchange and manages digital assets for clients. It alleges addresses linked to The Firm moved the equivalent of hundreds of thousands of dollars to wallets tied to the IRGC or to terrorism.
Treasury also accuses Million of laundering narcotics money by converting drug cash into digital assets, in part for Ryan Wedding, whom it describes as a Canadian trafficker. Canada's FINTRAC worked with Treasury on the case, and Treasury says The Firm was still trading when listed.
Why was Million Exchange sanctioned?
What is Diverse Trade Inc?
Is Million Exchange linked to Ryan Wedding?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 8 November 2026. Editorial standards.