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The U.S. Treasury has sanctioned Nobitex, Iran’s largest crypto exchange, accusing the platform of helping the Iranian regime move funds, evade sanctions and process transactions tied to the Islamic Revolutionary Guard Corps.
The action also targets three other Iran-based digital asset exchanges: Wallex, Bitpin and Ramzinex. Treasury also sanctioned Nobitex leaders, including chairman and co-founder Amir Hossein Rad.
Nobitex Handled Over 50% of Iran Crypto Inflows
Treasury said Nobitex processed more than 50% of all Iranian digital asset inflows in 2025. The agency said the exchange supported sanctions evasion, terrorist financing and transactions linked to IRGC-affiliated ransomware actors.
Treasury also said Nobitex helped Iran’s central bank access hundreds of millions of dollars in stablecoins as the rial weakened. It said the platform gave regime insiders access to international crypto exchanges and helped move wealth out of Iran during internet blackouts after U.S. combat operations began.
OFAC Names Nobitex Chair and Co-Founders
OFAC designated Rad as Nobitex’s chairman, co-founder and former chief executive. Treasury also sanctioned Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali. It described both as Nobitex co-founders and members of the Kharrazi family.
In May, Nobitex was reported to be controlled by brothers from a powerful Iranian family and to have handled funds linked to Iran’s central bank and the IRGC. Nobitex denied direct government ties and said any misuse of its platform happened without management knowledge.
Wallex, Bitpin and Ramzinex Also Sanctioned
Wallex, Bitpin and Ramzinex were also sanctioned under rules targeting Iran’s financial sector. Treasury said Wallex received 12% of Iranian digital asset inflows in 2025. It said Bitpin received 10% and processed transactions linked to the IRGC.
Ramzinex, founded in 2018, has processed more than $2.45 billion in transactions, according to Treasury. The agency said that included activity linked to the IRGC and a government-backed financial institution.
OFAC Warns Counterparties on Sanctions Risk
The sanctions freeze U.S.-controlled property of the designated people and entities and generally bar U.S. persons from dealing with them. OFAC also warned that non-U.S. firms could face sanctions risk if they conduct certain transactions with Nobitex, Wallex, Bitpin or Ramzinex.
The designations place the four exchanges inside Treasury’s Iran financial-sector sanctions campaign. For crypto counterparties, the immediate risk is any continued routing of funds through the sanctioned platforms.
