The United States Treasury Department announced sanctions on Iran’s largest digital asset exchange, Nobitex, along with three other Iranian crypto platforms, on Tuesday as part of the Trump administration’s “Economic Fury” campaign .
The Office of Foreign Assets Control (OFAC) designated Nobitex for processing more than 50 percent of all Iranian digital asset inflows in 2025 and facilitating payments tied to Iran’s terrorist activities and sanctions evasion efforts . The exchange reportedly handled transactions linked to the Islamic Revolutionary Guard Corps (IRGC), including activity connected to IRGC-affiliated ransomware actors .
Four exchanges sanctioned
In addition to Nobitex, OFAC sanctioned three other Iranian cryptocurrency platforms:
- Wallex – Iran’s second-largest digital asset exchange, receiving 12 percent of all Iranian digital asset inflows in 2025
- Bitpin – Received 10 percent of Iranian inflows and processed millions in transactions linked to the IRGC
- Ramzinex – Founded in 2018, processed over $2.45 billion in transactions
Assisting regime wealth transfer
According to the Treasury Department, Nobitex helped Iran’s Central Bank access hundreds of millions of dollars in stablecoins to support the plummeting Iranian rial . The exchange enabled regime insiders to access international digital asset exchanges and evade sanctions across multiple jurisdictions .
“While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country,” Treasury Secretary Scott Bessent said in a statement .
Following the commencement of U.S. combat operations in Iran, the Treasury alleged that Nobitex played a role in protecting and moving assets and funds out of Iran to shield regime wealth despite internet blackouts .
Leadership targeted
OFAC also sanctioned Nobitex’s top leadership, including chairman and co-founder Amir Hossein Rad, current CEO Seyed Ali Khoee, and co-founders Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali .
The two co-founders are reportedly members of the Kharrazi family, part of former Supreme Leader Ayatollah Ali Khamenei’s inner circle .
Crypto seizure and reward program
Bessent announced last week that the Treasury has seized approximately one billion dollars in cryptocurrency from Iranian exchanges and wallets since the U.S. began military action against Iran .
The State Department’s Rewards for Justice program is offering up to $15 million for information leading to the disruption of the IRGC’s financial mechanisms .
Nobitex denies connections
In an emailed statement to Reuters in April, Nobitex said it had no direct government connections and denied assisting the state . The company said that any illicit funds moving through Nobitex did so without management approval or awareness .
Impact on global crypto platforms
The sanctions have broader implications for international cryptocurrency exchanges. The Foundation for Defense of Democracies warned that Binance now faces potential secondary sanctions risk, as a significant volume of Iranian crypto inflows have passed through the exchange in recent years .
The action follows a separate OFAC measure in April, when Tether cooperated with U.S. authorities to freeze approximately 344 million USDT on the TRON blockchain, which the Treasury identified as linked to the Central Bank of Iran .
