US Treasury Sanctions Iranian Crypto Exchanges Including Nobitex for Terrorist Financing
The U.S. Treasury’s OFAC sanctioned Nobitex, Iran’s largest crypto exchange, and three other Iranian platforms for allegedly enabling sanctions evasion and terrorist financing. Treasury said Nobitex handled more than half of Iran’s digital asset inflows in 2025 and moved funds linked to the IRGC, ransomware actors, and other illicit activity. It also allegedly helped Iran’s central bank access hundreds of millions of dollars in stablecoins to support the rial. Wallex, Bitpin, and Ramzinex were also designated for their roles in Iran’s crypto ecosystem and large transaction volumes. Treasury also sanctioned four Nobitex-linked individuals, including executives and co-founders tied to Iran’s political elite. The action is part of a broader U.S. campaign against Iranian crypto networks; Treasury said it has seized about $1 billion in crypto from Iranian exchanges and wallets since the campaign began.
