OFAC Designates Nobitex and Three Other Iranian Crypto Exchanges as Sanctions-Evasion Conduits

The US Treasury's Office of Foreign Assets Control on June 2 designated Iran's four largest digital asset exchanges — Nobitex, Wallex, Bitpin and Ramzinex — along with four Iranian nationals in their leadership, accusing the platforms of providing significant support to the regime's sanctions evasion and terror finance. Treasury said Nobitex, Iran's largest exchange, processed more than 50% of all Iranian digital-asset inflows in 2025, including IRGC-linked transactions and ransomware payments; its CEO Seyed Ali Khoee was designated under counterterrorism authority Executive Order 13224.

Wallex, the second-largest exchange with 12% of inflows, Bitpin with 10%, and Tehran-based Ramzinex — which has processed over $2.45 billion in transactions — were designated under Executive Order 13902 for operating in the financial sector of the Iranian economy. All property of the designated persons within US jurisdiction is blocked, and Treasury warned that foreign financial institutions engaging in certain transactions with the four firms risk secondary sanctions.

The State Department issued a parallel statement framing the action as targeting the regime's ability to access the international financial system and move insider wealth across borders during the war. The Washington Post and CoinDesk reported the designations the same day.