U.S. Treasury Sanctions Iranian Crypto Exchanges for Sanctions Evasion and Terror Financing

U.S. Treasury Sanctions Major Iranian Crypto Exchanges Over Sanctions Evasion

In a significant escalation of economic pressure on Iran, the U.S. Department of the Treasury has sanctioned Nobitex, the country’s largest digital asset exchange, along with three other Iranian crypto platforms: Wallex, Bitpin, and Ramzinex. This move is part of the Trump administration’s ongoing Economic Fury campaign aimed at curbing Tehran’s financial activities, particularly those linked to the Islamic Revolutionary Guard Corps (IRGC).

Allegations of Sanctions Evasion

U.S. officials allege that these exchanges have played a crucial role in enabling users to bypass international sanctions, facilitating financial transactions connected to Iran, and processing payments linked to the IRGC. Treasury Secretary Scott Bessent stated that Iran has increasingly leveraged digital asset technologies to further its “corrupt agenda,” which includes circumventing sanctions and transferring wealth abroad.

According to Treasury, Nobitex alone accounted for over 50% of all Iranian digital asset inflows in 2025, making it a central player in the nation’s crypto ecosystem. The agency claims that Nobitex facilitated payments related to terrorist activities and sanctions evasion, including transactions involving ransomware actors affiliated with the IRGC. Furthermore, it is alleged that the exchange assisted the Central Bank of Iran in accessing hundreds of millions of dollars in stablecoins to support the Iranian rial.

Key Figures Targeted

In addition to sanctioning Nobitex, the Treasury designated several key figures associated with the exchange. Amir Hossein Rad, the chairman and co-founder, along with co-founders Seyed Mohammad Ali Aghamir and Seyed Mohammad Aghamir Mohammad Ali, were all implicated. The Treasury described the Aghamir family as part of Supreme Leader Mojtaba Khamenei’s inner circle. Current CEO Seyed Ali Khoee was also sanctioned.

Rad is noted for his role in restoring Nobitex’s operations following a significant $90 million hack in June 2025, underscoring the exchange’s resilience amid ongoing scrutiny.

Other Exchanges Under Fire

The sanctions extend to Wallex, which is identified as Iran’s second-largest digital asset exchange, handling 12% of the country’s digital asset inflows in 2025. It is accused of facilitating transactions linked to the IRGC. Bitpin, accounting for 10% of Iranian digital asset inflows, has processed millions in transactions, some allegedly connected to the IRGC and involving investors linked to sanctions evasion efforts. Ramzinex, founded in 2018, has processed over $2.45 billion in transactions and is similarly accused of facilitating IRGC-linked transactions.

Ongoing Monitoring

The Treasury has emphasized its commitment to tracking financial activities through both traditional banking channels and digital assets as part of a broader strategy to prevent Iran from advancing its nuclear weapons program. As the situation evolves, the U.S. government remains vigilant in its efforts to disrupt financial networks that support Iran’s controversial activities.

This latest round of sanctions highlights the increasing intersection of cryptocurrency and international relations, as governments grapple with the challenges posed by digital currencies in the context of global sanctions and financial oversight.