US Sanctions Iran’s Largest Crypto Exchange Nobitex in Major ‘Economic Fury’ Crackdown

Treasury alleged that Iranian crypto exchanges enabled sanctions evasion whereas processing transactions linked to the IRGC and regime insiders.

The US Division of the Treasury’s Workplace of Overseas Belongings Management (OFAC) has sanctioned Nobitex, Iran’s largest digital asset trade, together with three different Iranian crypto exchanges. The transfer is a part of the Donald Trump administration’s Financial Fury marketing campaign geared toward rising financial stress on Tehran.

The Treasury’s sanctions apply to Nobitex, Wallex, Bitpin, and Ramzinex. US officers allege that these exchanges helped customers bypass sanctions, facilitated monetary exercise linked to Iran, and processed transactions linked to the Islamic Revolutionary Guard Corps (IRGC).

Terror Finance and Sanctions Evasion Dangers

In an official assertion this week, Treasury Secretary Scott Bessent claimed that Iran has more and more used digital asset applied sciences to advance its “corrupt agenda,” together with circumventing sanctions and transferring wealth exterior the nation. He added that Treasury would proceed monitoring monetary exercise by way of each conventional banking channels and digital belongings as a part of the administration’s broader effort to forestall Iran from growing a nuclear weapon.

In keeping with Treasury, Nobitex processed greater than 50% of all Iranian digital asset inflows in 2025 and performed a central position within the nation’s crypto ecosystem. The company alleged that the trade facilitated funds linked to Iran’s terrorist actions, sanctions evasion efforts, and IRGC-related transactions, together with exercise involving IRGC-affiliated ransomware actors. Treasury additionally accused Nobitex of serving to the Central Financial institution of Iran entry lots of of thousands and thousands of {dollars} in stablecoins used to assist the Iranian rial and enabling regime insiders to entry worldwide crypto exchanges throughout a number of jurisdictions.

Treasury mentioned Nobitex helped defend and transfer belongings in a foreign country regardless of web blackouts from the very begin of the struggle. Along with sanctioning the trade, OFAC designated Amir Hossein Rad, Nobitex’s chairman, co-founder, and former CEO, together with a number of different firm leaders and officers.

In keeping with their findings, Rad helped restore Nobitex’s operations after the platform suffered a $90 million hack in June 2025.

The company additionally sanctioned Nobitex co-founders Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, each members of the Kharrazi household, which Treasury described as a part of Supreme Chief Mojtaba Khamenei’s internal circle. Present Nobitex CEO Seyed Ali Khoee was additionally designated.

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Wallex, Bitpin, and Ramzinex Additionally Focused

In the meantime, Wallex, recognized as Iran’s second-largest digital asset trade by quantity, was mentioned to have acquired 12% of Iranian digital asset inflows in 2025 and allegedly facilitated transactions linked to the IRGC. Bitpin accounted for 10% of Iranian digital asset inflows in 2025 and processed thousands and thousands of {dollars} in transactions, together with transfers allegedly linked to the IRGC, whereas a few of its traders have reportedly been linked to efforts to evade US sanctions.

Ramzinex, a Tehran-based trade based in 2018, has processed greater than $2.45 billion in transactions and allegedly facilitated transactions linked to the IRGC and an Iranian government-backed monetary establishment.