The US Treasury’s Workplace of International Belongings Management (OFAC) has sanctioned Nobitex, Iran’s largest cryptocurrency change, together with three different Iranian digital asset platforms, as a part of what the Trump administration is asking “Financial Fury” — its most strain marketing campaign in opposition to the Iranian regime.
What Nobitex is accused of
Nobitex processed over 50% of all Iranian digital asset inflows in 2025, based on Treasury.
The change allegedly facilitated funds tied to the Islamic Revolutionary Guard Corps (IRGC), together with transactions for wallets linked to IRGC-affiliated ransomware actors.
It additionally reportedly helped Iran’s central financial institution entry lots of of tens of millions of {dollars} in stablecoins to prop up the collapsing Iranian rial, whereas enabling regime insiders to succeed in worldwide exchanges and evade sanctions throughout a number of jurisdictions.
Treasury Secretary Scott Bessent stated:
“Whereas Iran’s financial system is in free fall, the regime has chosen to co-opt digital asset applied sciences for its personal corrupt agenda, together with evading sanctions and transferring wealth in a foreign country.”
Key people sanctioned
OFAC additionally designated Nobitex’s chairman and co-founder Amir Hossein Rad, who reportedly helped reconstitute the change’s operations after a $90 million hack on June 18, 2025.
Two different co-founders — Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali — have been sanctioned as members of the Kharrazi household, described as a part of Supreme Chief Khamenei’s internal circle.
The present CEO, Seyed Ali Khoee, was additionally designated.
Three different exchanges hit
Past Nobitex, Treasury sanctioned three further Iranian platforms.
Wallex, Iran’s second-largest change, obtained 12% of all Iranian digital asset inflows in 2025 and facilitated quite a few IRGC-linked transactions.
Bitpin obtained 10% of Iranian digital asset inflows and processed tens of millions in IRGC-linked transactions, with traders reportedly tied to US sanctions evasion efforts.
Ramzinex, based in 2018 and primarily based in Tehran, processed over $2.45 billion in complete transactions, together with for IRGC-linked entities and an Iranian government-backed monetary establishment.
Treasury famous it has already frozen practically half a billion {dollars} in regime-linked cryptocurrency as a part of the broader Financial Fury marketing campaign, and warned it might impose secondary sanctions on international monetary establishments facilitating Iran’s actions.