TRM Labs Uncovers Links Between Heleket and Sanctioned Crypto Platform Cryptomus

A new crypto payment processor has emerged in the shadows, linked to a sanctioned platform by a blockchain intelligence firm. TRM Labs' report reveals that Heleket shares infrastructure and personnel with Cryptomus, including a shared domain registrar, identical design elements, and rare phrasing.

The findings suggest that Heleket was built to continue processing transactions without strict identity checks after Canada's record $177M penalty was imposed on Cryptomus in October 2025. The penalty cited multiple violations of money laundering and terrorist financing laws.

Cryptomus had introduced mandatory identity verification in February 2025, but transaction volumes dropped sharply immediately after, from USD 153 million in January to USD 86 million by March. TRM argues that this drop opened the door for Heleket's emergence.