The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has added four Iranian cryptocurrency exchanges to its sanctions list: Nobitex, Wallex, Bitpin, and Ramzinex. The U.S. alleges that these platforms are involved in terrorist financing, sanctions evasion, and ransomware-related financial transactions.
Nobitex has been identified as a key target.
Nobitex was the most frequently named platform in this round of operations. The U.S. Treasury Department stated that the exchange is Iran's largest digital asset platform, handling more than half of Iran's digital asset inflows in 2025.
The US also alleged that Nobitex facilitated transactions linked to Iran's Islamic Revolutionary Guard Corps, including financial transactions related to ransomware activities. The Treasury Department further stated that Nobitex helped the Central Bank of Iran obtain hundreds of millions of dollars in stablecoins to support the weakening Iranian rial.
Three other platforms were also included in the list.
In addition to Nobitex, Wallex, Bitpin, and Ramzinex were also sanctioned.
- Wallex is known as Iran's second-largest digital asset exchange by trading volume, receiving approximately 12% of Iran's digital asset inflows in 2025.
- Bitpin accounts for approximately 10% of the related inflows, and the US claims that its investors are linked to Iranian sanctions circumvention activities.
- Ramzinex, headquartered in Tehran, was founded in 2018 and has processed over $2.45 billion in transactions to date.
Several Nobitex-related individuals were named.
The U.S. Treasury Department also sanctioned four individuals associated with Nobitex, including Chairman and co-founder Amir Hossein Rad. The U.S. stated that he assisted in restoring the platform's operations following a roughly $90 million hack in June 2025.
Two other co-founders, Seyed Mohammad Ali Aghamir and Seyed Mohammad Aghamir Mohammad Ali, were also included on the list. The Ministry of Finance stated that the two are linked to the Kharrazi family, a close confidant of Iran's Supreme Leader Khamenei. Current Nobitex CEO Seyed Ali Khoee is also among those sanctioned.
The US expands its encrypted enforcement efforts against Iran.
U.S. Treasury Secretary Scott Bessent said last week that the Treasury Department has seized about $1 billion in crypto assets from Iranian exchanges and wallets since it began enforcement actions against Iran.
Prior to this, Tether froze approximately $344.2 million in stablecoins in April of this year in two wallets belonging to the Central Bank of Iran. The U.S. Treasury Department stated that it will continue to track related funds flowing through the banking system and digital asset networks.
