September 20, 2025 — A new report from watchdog group Accountable.US accuses former President Donald Trump’s crypto venture, World Liberty Financial (WLFI), of selling tokens to entities linked to North Korea, Iran, and other sanctioned actors. The group labeled the project an “American Sell-Out,” warning of serious national security risks.
Report Highlights Alleged Deals With Sanctioned Networks
According to Accountable.US, WLFI facilitated transactions with wallets connected to hostile governments and blacklisted platforms. Among them were:
- The Lazarus Group, a North Korean hacking collective sanctioned by the U.S. since 2019.
- NoBitex, Iran’s largest crypto exchange, which has hosted IRGC ransomware operators and Hamas-linked networks.
- A7A5, a Russian ruble-backed sanctions evasion tool blacklisted by the U.S. in August 2025.
In addition, the watchdog found that 62 WLFI buyers had used Tornado Cash, a crypto mixer tied to $1 billion in illicit laundering. Trump lifted sanctions on Tornado Cash earlier this year, making the discovery even more controversial.
Examples Raising Red Flags
The investigation cited specific cases that highlight the risks. For instance, “Shryder.eth” purchased over 660,000 WLFI tokens on Trump’s second Inauguration Day. Blockchain records show that this wallet had already conducted 55 transactions with Lazarus-linked accounts.
Similarly, “0x062” bought 3,468 WLFI tokens while trading actively on NoBitex. The same account is tied to a social media profile that posts pro-Iran messages and threats against U.S. forces.
As a result, Accountable.US argues these sales reflect a pattern of foreign entanglements that undermine U.S. security.
Trump Venture’s Delayed Response
World Liberty Financial responded slowly to the problem. It blacklisted only five high-risk accounts on September 5, 2025 — months after the questionable sales. The wallet of Tron founder Justin Sun was among those banned.
However, Shryder.eth was not blocked until August 31. By then, critics argue, the damage had already been done.
Accountable.US Executive Director Tony Carrk accused Trump of turning WLFI into a haven for “shady investors tied to Iran and money-laundering platforms.”
National Security Concerns Grow
The report comes at a time of growing unease about Trump’s expanding role in crypto. His disclosure filings show he personally earned $57 million from WLFI. Today, digital assets make up 73% of his net worth.
Moreover, the Trump family’s holdings grew from 60 to 185 Bitcoin treasury firms in only a year, generating billions in trading volume. Most of that activity occurred on foreign exchanges.
Meanwhile, Trump Media & Technology Group holds about $2 billion in Bitcoin, or 40% of its market cap. Yet its shares have dropped 47% in six months, even as Bitcoin prices rose 10%.
Sen. Elizabeth Warren criticized the arrangement, warning it could “create a superhighway for Donald Trump’s corruption.” She called for stronger rules to stop presidents and their families from profiting off digital assets while in office.
What Comes Next
Looking ahead, the findings may trigger congressional hearings on foreign influence and crypto oversight. Critics stress that Trump’s late compliance efforts have not closed the core security gaps.
For now, the watchdog’s report leaves a troubling picture: a former president’s crypto empire fueled by investors allegedly tied to North Korea, Iran, and sanctioned laundering networks.nt’s crypto empire enriched by investors allegedly linked to North Korea, Iran, and sanctioned money-laundering networks.
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