Summary: The U.S. Treasury Department designated Nobitex and three other Iranian digital-asset platforms as sanctioned entities, alleging large-scale processing of Iranian crypto inflows in 2025 and connections to sanctioned actors and activities tied to the Islamic Revolutionary Guard Corps (IRGC). The Treasury singled out leadership at Nobitex and detailed the exchanges' roles in providing stablecoin access to Iran’s Central Bank and enabling cross-border access to international exchanges.
The Treasury's Office of Foreign Assets Control (OFAC) named Nobitex, noting the exchange processed more than 50 percent of all Iranian digital asset inflows in 2025. The designation asserts the platform facilitated payments associated with Iran’s terrorist activities and with sanctions-evasion efforts, and that some transactions were linked to IRGC-affiliated ransomware actors.
According to the Treasury, Nobitex played a role in allowing Iran’s Central Bank to obtain hundreds of millions of dollars in stablecoins that were used to support the Iranian rial. The agency also said the exchange provided a mechanism for regime insiders to reach international digital asset venues and to channel funds around sanctions regimes in multiple jurisdictions.
The Treasury statement further describes activity following U.S. combat operations in Iran: when internet outages occurred, Nobitex allegedly assisted in moving assets and funds out of the country despite those blackouts.
In addition to designating the platform itself, the Treasury named several executives. Amir Hossein Rad, described as Nobitex’s chairman, co-founder and former chief executive officer, was designated. The Treasury said Rad helped reconstitute Nobitex operations after a June 18, 2025 hack that resulted in $90 million in losses. The agency also listed other company leaders, including two co-founders identified as Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, whom it said are members of the Kharrazi family and connected to the inner circle of former Supreme Leader Ayatollah Ali Khamenei. Current CEO Seyed Ali Khoee was also designated.
The Treasury's action extended to three additional exchanges. Wallex, described as Iran’s second-largest digital asset exchange, was credited with receiving 12 percent of all Iranian digital asset inflows in 2025. Bitpin was said to have received 10 percent of Iranian inflows and to have processed millions of dollars in transactions, including those linked to the IRGC. Ramzinex, a platform founded in 2018, was reported to have processed more than $2.45 billion in transactions.
Separately, the U.S. State Department’s Rewards for Justice program announced a reward of up to $15 million for information that helps disrupt the IRGC’s financial mechanisms.
Contextual note: The Treasury described the designations as part of the Trump Administration’s Economic Fury campaign. The statement lists specific transaction volumes, leadership roles, and alleged links to sanctioned actors. Beyond those assertions, the Treasury and State Department announcements provide the basis for the designations and the reward offering.