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Suspicious transactions at GTA crypto shops reveal alleged links to Iran-backed terror groups.
Suspicious transactions at GTA crypto shops reveal alleged links to Iran-backed terror groups. Is the regulator doing enough to police them?
FINTRAC says it rigorously polices the money services sector, has issued more than $200 million in fines, and is monitoring crypto activity.
March 8, 2026
https://www.thestar.com/news/investigations/suspicious-transactions-at-gta-crypto-shops-reveal-alleged-links-to-iran-backed-terror-groups-is/article_a18562a4-1cc8-47e9-a2fc-b20b01a01e1e.html
In a row of small Yonge Street storefronts, Million Exchange angles for a corner of a booming market.
“Instant buying and selling of digital currencies,” it promises on its website, though the shop is not in the federal registry of authorized crypto businesses. Registration is a requirement meant to deter money laundering and terrorist financing.
Over the last year and a half, more than $200 million worth of digital currencies has moved through a virtual wallet used by Million Exchange.
In two of those transactions last year, the wallet received more than $588,000 worth of crypto from an account allegedly tied to Iran’s Islamic Revolutionary Guard Corps (IRGC), which Canada has designated as a terrorist organization.