Summary
- The Office of Foreign Assets Control of the U.S. Treasury has imposed sanctions on four Iranian cryptocurrency exchanges.
- Nobitex, the largest digital asset exchange in Iran, is among those sanctioned, along with Wallex, Bitpin, and Ramzinex.
- These platforms are accused of facilitating terrorist financing, evading sanctions, and processing ransomware payments.
The U.S. Treasury Department's Office of Foreign Assets Control has sanctioned Nobitex, the largest digital asset exchange in Iran, alongside three other Iranian cryptocurrency exchanges for allegedly aiding terrorist financing and evading sanctions.
According to the Treasury Department, Nobitex was responsible for over 50% of the digital asset inflows into Iran in 2025, allegedly facilitating payments linked to terrorism, sanctions evasion, and transactions related to the Islamic Revolutionary Guard Corps (IRGC), including those involving ransomware groups associated with the IRGC.
Furthermore, the sanctions claim that Nobitex assisted the Central Bank of Iran in accessing substantial amounts of stablecoins, which were used to stabilize the declining value of the Iranian rial.
Wallex, the second-largest exchange in Iran by trading volume, accounted for 12% of the country's digital asset inflows in 2025. Bitpin, which captured 10% of these inflows, was sanctioned due to its investors' connections to sanctions evasion. Ramzinex, founded in 2018 and based in Tehran, processed transactions exceeding $2.45 billion.
The Treasury also sanctioned four individuals associated with Nobitex, including chairman and co-founder Amir Hossein Rad, who played a role in restoring operations after a $90 million hack in June 2025. Co-founders Seyed Mohammad Ali Aghamir and Seyed Mohammad Aghamir Mohammad Ali are linked to the Kharrazi family, which is part of Supreme Leader Khamenei's inner circle. The current CEO of Nobitex, Seyed Ali Khoee, who previously held the position of director of product and marketing, was also designated.
This round of sanctions represents the latest step in the Treasury's ongoing efforts against Iranian cryptocurrency operations.
Treasury Secretary Scott Bessent noted last week that the department has seized approximately $1 billion in cryptocurrency from Iranian exchanges and wallets since the start of its enforcement actions targeting Iran. In April, Tether froze $344.2 million in stablecoins linked to two wallets associated with the Central Bank of Iran.
"As promised, the Treasury will continue to trace the flow of money in support of Economic Fury, whether through the banking system or digital assets, to prevent the regime from acquiring nuclear weapons," Bessent stated in the Treasury's announcement.