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

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Nobitex, Iran’s largest digital asset change, together with three different Iranian crypto exchanges. The transfer is a part of the Donald Trump administration’s Economic Fury marketing campaign aimed toward rising financial strain 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 related to Iran, and processed transactions linked to the Islamic Revolutionary Guard Corps (IRGC).

Terror Finance and Sanctions Evasion Risks

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 outdoors the nation. He added that Treasury would proceed monitoring monetary exercise by means of each conventional banking channels and digital property as a part of the administration’s broader effort to stop Iran from growing a nuclear weapon.

According to Treasury, Nobitex processed greater than 50% of all Iranian digital asset inflows in 2025 and performed a central position in the nation’s crypto ecosystem. The company alleged that the change 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 Bank of Iran entry a whole bunch of tens of millions of {dollars} in stablecoins used to help the Iranian rial and enabling regime insiders to entry worldwide crypto exchanges throughout a number of jurisdictions.

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

According to 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 Leader Mojtaba Khamenei’s inside circle. Current Nobitex CEO Seyed Ali Khoee was additionally designated.

Wallex, Bitpin, and Ramzinex Also Targeted

Meanwhile, Wallex, recognized as Iran’s second-largest digital asset change 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 tens of millions of {dollars} in transactions, together with transfers allegedly related to the IRGC, whereas a few of its traders have reportedly been linked to efforts to evade US sanctions.

Ramzinex, a Tehran-based change 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.

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