Government watchdog Accountable.US accused President Trump’s World Liberty Financial crypto venture of selling tokens to entities linked to North Korea, Iran, and sanctioned money-laundering platforms in a new report titled “American Sell-Out.”
The findings raise national security concerns as Trump’s crypto empire has generated over $1 billion in personal wealth while his family ventures expand rapidly across the digital asset sector.
The report identified specific transactions, including a $10,000 purchase on Inauguration Day by “Shryder.eth,” a trader who conducted 55 transactions with a Treasury-sanctioned North Korean Lazarus Group wallet.
World Liberty Financial also sold nearly 3,500 tokens to a user who deposited over $26,000 on Iran’s largest crypto exchange and controls a pro-Iran social media account posting anti-American content.
Additional concerning sales included over 10,000 tokens to a user who engaged with A7A5, described as a Russian “ruble-backed sanctions evasion tool” whose creators faced U.S. sanctions in August 2025.
According to the report, the venture also sold tokens to at least 62 users who previously utilized Tornado Cash, a crypto mixing service that helped launder over $1 billion in illicit assets before Trump lifted Biden-era sanctions in March 2025.
Trading Patterns Raise Red Flags Across Enemy Nations
The Accountable.US investigation revealed ‘troubling’ transaction patterns connecting World Liberty Financial token buyers to America’s primary adversaries.
On January 20, 2025, user “Shryder.eth” purchased 666,666 WLFI tokens for $10,000, later receiving an additional $47 in promotional tokens during a June airdrop campaign.
Blockchain analysis revealed that Shryder.eth had previously received multiple payments from wallets now sanctioned by the Treasury’s Office of Foreign Asset Control for their association with the Lazarus Group.
This North Korean state-sponsored hacking organization was sanctioned by Trump’s first administration in 2019 and added to the FBI’s “Cyber Most Wanted List” in 2020.
Following the Lazarus Group transactions in 2022, Shryder.eth was blocked from mainstream crypto platforms, including Uniswap and OpenSea.
These services only restrict wallets “owned or associated with clearly illegal behavior like sanctions, terrorism financing, hacked or stolen funds,” according to Uniswap’s screening guidelines.
The Iranian connection involved user “0x062,” who purchased 3,468 WLFI tokens in October 2024 while maintaining over $26,000 in deposits on NoBitex.IR, Iran’s largest crypto exchange.
This platform has facilitated sanctions violations and served “a range of illicit actors,” including IRGC-affiliated ransomware operators and Hamas-linked networks.
According to the report, the user appears connected to an X account, which has reposted pro-Iran content and threats that U.S. warships “will sleep on the ocean floor” if America enters the Israel-Iran conflict.
Late Compliance Efforts Fail to Address Core Security Gaps
World Liberty Financial only disclosed blacklisting five accounts for “high risk exposure” on September 5, 2025, including the wallet of Tron’s founder Justin Sun, months after the controversial token sales occurred.
The company didn’t blacklist Shryder.eth until August 31, 2025.
The delayed response came as Trump’s crypto ventures faced mounting scrutiny over foreign entanglements.
Trump’s financial disclosure revealed he personally earned over $57 million from World Liberty Financial, with crypto assets now comprising 73% of his net worth.
The Trump family’s digital empire expanded rapidly, growing from 60 to 185 Bitcoin treasury companies in twelve months while generating billions in trading volume primarily on foreign exchanges.
The national security implications extend beyond individual transactions.
Senator Elizabeth Warren demanded answers from the Trump administration following the Lazarus Group’s $1.5 billion hack of crypto exchange Bybit, warning that pending GENIUS Act legislation could “create a superhighway for Donald Trump’s corruption” with inadequate safeguards.
As of August, Trump Media & Technology Group holds approximately $2 billion in Bitcoin, representing 40% of the company’s market capitalization.
However, TMTG shares have consistently underperformed Bitcoin itself, falling 47% over six months while Bitcoin gained 10.6% during the same period.
Most recently, Eric Trump, co-founder of an American Bitcoin mining company, a Bitcoin mining company tied to President Donald Trump, saw its stock surge on September 3, boosting their paper wealth by more than $1.5 billion.
Just like Sen Warren, Accountable.US Executive Director Tony Carrk questioned why the Trump family crypto empire accepts money from “shady investors tied to Iran and a notorious money-laundering platform.”
“Trump's crypto empire is a vehicle for foreign actors to buy influence anonymously and without disclosure.”
Our executive director Tony Carrk reveals how Trump’s crypto venture puts U.S. workers and investors at risk. pic.twitter.com/8phS0blq41— Accountable.US (@accountable_us) September 19, 2025
He called for a congressional investigation into foreign influence channels and the guardrails that prevent presidents and their families from enriching themselves through digital assets while maintaining access to sensitive government information.
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