U.S. Treasury Sanctions Nobitex, Wallex, Bitpin, and Ramzinex Over Terrorist Financing

The U.S. Treasury’s Office of Foreign Assets Control designated Nobitex, Wallex, Bitpin and Ramzinex in a sanctions action aimed at Iranian cryptocurrency exchanges, with the Treasury alleging the platforms facilitated terrorist financing, sanctions evasion, and ransomware payments.

The Treasury said Nobitex, described as Iran’s largest digital asset exchange, processed more than 50% of all Iranian digital asset inflows in 2025 and helped the Central Bank of Iran access hundreds of millions of dollars in stablecoins used to prop up the plummeting value of the Iranian rial.

@coindesk

Treasury Secretary Scott Bessent said, "As promised, Treasury will continue to follow the money in support of Economic Fury, whether it is through the banking system or through digital assets, to prevent the regime from developing a nuclear weapon," as the designations were framed as part of the campaign against Iranian crypto assets.

The Block reported OFAC blacklisted Nobitex and three other Iranian exchanges under the Trump administration’s "Economic Fury" campaign, and said the action added the exchanges to a global Specially Designated Nationals list barring U.S. entities and people using the U.S. dollar system from providing financial services with the platforms.

The Treasury also sanctioned individuals connected to Nobitex, including chairman and co-founder Amir Hossein Rad, and Current Nobitex CEO Seyed Ali Khoee, according to Decrypt’s account of the designations.

Decrypt said Rad helped reconstitute operations following a $90 million hack in June 2025, and it identified co-founders Seyed Mohammad Ali Aghamir and Seyed Mohammad Aghamir Mohammad Ali as members of the Kharrazi family.

ABC News

Shafaq News said the measures targeted four Iranian nationals and four Iran-based digital asset exchanges, naming Nobitex, Bitbinn, Ramzinex, and Wallex, and warned foreign financial institutions and individuals could also face sanctions if they engaged in certain transactions with the four companies.

ABC News reported that the sanctions included Nobitex’s chairman and co-founder, Amir Hossein Rad, and said Treasury accused Nobitex of moving assets and funds out of the country to shield regime wealth after the start of U.S. combat operations in Iran.

The sanctions were presented as part of a wider effort to pressure Iran’s financial networks, with Decrypt citing Treasury’s claim that it had seized around $1 billion in cryptocurrency from Iranian exchanges and wallets since the beginning of its enforcement campaign.

“June 2 (Reuters) - The United States issued new Iran-related sanctions on Tuesday, targeting individuals and crypto exchanges, a notice on the Treasury Department website showed”

Al-Monitor

The Block said Bessent recently announced the U.S. had seized around $1 billion in Iranian crypto assets, but also noted that the release "reverted to previous estimates of nearly $500 million," reflecting a dispute in the figures cited around the campaign.

In parallel, Decrypt reported that in April Tether froze $344.2 million in stablecoins held across two wallets attributed to the Central Bank of Iran, and it described the Treasury’s allegations that the stablecoins were used to support the depreciating rial.

The Block added that Treasury Secretary Scott Bessent said, "While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda," and it described the compliance question as whether SDN listings would compel stablecoin issuers and foreign exchanges to cut off Iranian users at scale.