US sanctions targeted Nobitex, Iran’s largest crypto exchange, along with Wallex, Bitpin and Ramzinex. Treasury accused the platforms of helping sanctioned Iranian entities move funds, including transactions linked to the IRGC and Iran’s central bank.
The United States has sanctioned Nobitex, Iran’s largest cryptocurrency exchange, in a new move against Tehran’s digital asset networks. The Treasury Department also targeted Wallex, Bitpin, and Ramzinex, as well as several individuals linked to Nobitex.
US officials said the action focuses on crypto platforms accused of helping sanctioned Iranian entities move funds. Nobitex denied direct government ties in earlier comments to Reuters and said any illicit use of its platform happened without management approval.
JUST IN: 🇺🇸US Treasury has sanctioned Nobitex, Iran’s largest crypto exchange, along with Wallex, Bitpin and Ramzinex, accusing them of supporting sanctions evasion and IRGC linked transactions. pic.twitter.com/3tjRsbsr0X
— SolanaFloor (@SolanaFloor) June 2, 2026
US Sanctions Nobitex Over Iran Crypto Flows
The Treasury Department said Nobitex played a central role in Iran’s crypto market during 2025. According to OFAC, the exchange processed more than half of Iran’s digital asset inflows that year.
US authorities accused Nobitex of supporting sanctions evasion, terrorist financing, and transactions linked to the Islamic Revolutionary Guard Corps. OFAC said the platform gave “significant support” to the Iranian government and handled a “significant number” of transactions tied to sanctioned groups.
The sanctions also apply to several people connected with the exchange. Those named include chairman and co-founder Amir Hossein Rad, current CEO Seyed Ali Khoee, and co-founders Ali and Mohammad Kharrazi.
Reuters previously reported that the Kharrazi brothers come from one of Iran’s most powerful political families. The report also said Nobitex processed funds linked to Iran’s central bank and the IRGC.
Treasury Links Action to Economic Fury Campaign
The sanctions form part of the Trump administration’s “Economic Fury” campaign against Iran’s financial networks. Washington says the campaign targets systems used by Tehran to move money outside traditional banking channels.
Treasury Secretary Scott Bessent said Iran had used digital assets for a “corrupt agenda.” He also accused the government of using crypto for “evading sanctions and transferring wealth” beyond normal restrictions.
According to the Treasury, Nobitex kept helping move funds after US combat operations began in Iran. Officials said the exchange helped protect and transfer assets during internet blackouts.
However, Nobitex told customers on Telegram that it had prepared for possible sanctions-related problems for years. The company cited the “unique challenges faced by Iranian businesses operating internationally.”
Wallex, Bitpin and Ramzinex Also Targeted
OFAC also sanctioned Wallex, Bitpin, and Ramzinex. The Treasury Department said the three platforms operated in Iran’s financial sector and supported activity involving sanctioned entities.
Wallex is one of Iran’s larger digital asset exchanges. Bitpin also handled Iranian crypto inflows, while Ramzinex processed billions of dollars in transactions, according to Treasury-linked figures.
US officials said these exchanges helped create alternative financial routes for Iranian users and institutions. The sanctions now block US-linked property and interests of the named firms and individuals.
Meanwhile, foreign financial institutions may face penalties if they knowingly handle certain transactions with sanctioned exchanges. This expands the pressure beyond Iran’s domestic crypto market.
Nobitex Denies Direct Government Links
Nobitex rejected claims of direct government control in an earlier emailed statement to Reuters. The company said it had no direct government connections and denied helping the state move funds.
It also said any illicit money that passed through the platform did so without management approval or awareness. Additionally, the company denied that the Kharrazi brothers had used alternate identities.
The exchange could not be reached for comment when the sanctions were announced after business hours in Iran. However, its Telegram statement said technical and operational preparations had long been part of its planning.
The move places Iran’s crypto sector under closer US scrutiny. It also shows Washington’s growing focus on digital asset platforms that officials say can support sanctioned networks outside the banking system.
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
