OFAC Designates Four Iranian Crypto Exchanges, Targeting 78% of Iran's 2025 Volume
On June 2, 2026, OFAC designated four Iranian domestic crypto exchanges — Nobitex, Bit Pin, Wallex, and Ramzinex — under Executive Orders 13224 and 13902. These four exchanges accounted for approximately USD 7.7 billion, or 78%, of Iran's USD 9.9 billion in attributed crypto volume for 2025. This action is the third OFAC enforcement against Iran's crypto infrastructure in five months, targeting the exchange layer that provides Iranians access to dollar-denominated assets and cross-border transfers. The designations extend compliance obligations beyond US persons: under E.O. 13902, foreign financial institutions conducting significant transactions with these exchanges face correspondent account restrictions and secondary designation exposure. Notably, TRM Labs identified Seyed Mohammad Aghamir, Nobitex's blockchain lead with ties to the Iranian regime, as the author and maintainer of the exchange's address-validation software, updated 17 times between 2022 and 2024. OFAC's designation also names Aghamir's brother, CEO Seyed Ali Khoee, and Chairman Amir Hossein Rad. This layered enforcement pattern — following designations of Zedcex/Zedxion (IRGC-linked) in January and Central Bank wallets in April — signals a comprehensive strategy to dismantle Iran's crypto economy.
Key facts
- OFAC designated Nobitex, Bit Pin, Wallex, and Ramzinex on June 2, 2026
- Four exchanges handled 78% of Iran's $9.9B attributed 2025 crypto volume
- Foreign financial institutions face secondary sanctions under E.O. 13902
- Nobitex's blockchain lead authored core address-validation software
- Action is third enforcement in five-month layered strategy against Iran's crypto economy