The U.S. Treasury Department's Office of Foreign Asset Control (OFAC) blacklisted four Iranian crypto exchanges—Nobitex, Wallex, Bitpin, and Ramzinex—along with several executives, placing them on the Specially Designated Nationals (SDN) list. This prohibits U.S. entities and those using the U.S. dollar financial system from providing services to these platforms. The action, announced on June 2, 2026, cites Nobitex's alleged ties to Iran's terrorist activities, sanctions evasion, and transactions linked to the Islamic Revolutionary Guard Corps (IRGC), including ransomware payments. Treasury Secretary Scott Bessent stated that his department had seized approximately $1 billion in crypto from Iranian exchanges and wallets since the war against Iran began, emphasizing that Iran's economic freefall validates the maximum pressure campaign. The sanctions are part of broader efforts to prevent Iran from using digital assets to evade sanctions and transfer wealth, especially after U.S. airstrikes earlier this year. Treasury also warned of sanctions risks for complying with Iranian demands for passage through the Strait of Hormuz, including toll payments in digital assets or other forms.

Key facts

• OFAC blacklisted Nobitex, Wallex, Bitpin, and Ramzinex for terror and sanctions evasion links.
• Executives of these exchanges were also added to the SDN list.
• Treasury Secretary Bessent cited $1B in crypto seized since war with Iran began.
• Nobitex allegedly facilitated IRGC-linked ransomware payments and asset transfers.
• Treasury warned against compliance with Iranian Strait of Hormuz toll demands.