The U.S. Treasury’s OFAC has sanctioned Nobitex, Iran’s largest cryptocurrency exchange, for facilitating payments linked to terrorist activities and sanctions evasion. The Treasury stated that Nobitex processed over 50% of Iranian digital asset inflows in 2025, including transactions tied to the Islamic Revolutionary Guard Corps (IRGC) and ransomware actors affiliated with it. Additionally, Nobitex helped the Central Bank of Iran access hundreds of millions of dollars in stablecoins to support the falling rial. OFAC also designated four Nobitex executives and founders, including chairman Amir Hossein Rad and CEO Seyed Ali Khoee. The sanctions, part of the “Economic Fury” campaign, also targeted three other Iranian exchanges: Wallex, Bitpin, and Ramzinex. According to Chainalysis, Iran’s crypto ecosystem received nearly $7.8 billion in 2025, with IRGC-associated addresses accounting for over 50% of Q4 inflows. The sanctions freeze any U.S.-jurisdiction assets of the designated entities and prohibit U.S. persons from dealing with them, creating international pressure on businesses to cut ties. This follows a June 2025 breach by the hacking group “Predatory Sparrow,” which claimed to have stolen $90 million from Nobitex.

Key facts

• OFAC sanctioned Nobitex for facilitating terrorist payments and sanctions evasion.
• Nobitex processed over 50% of Iran's crypto inflows in 2025.
• Treasury linked Nobitex to IRGC and associated ransomware actors.
• OFAC also designated three other Iranian exchanges: Wallex, Bitpin, Ramzinex.
• Chainalysis reported nearly $7.8 billion in Iranian crypto inflows in 2025.