US Sanctions Iran's Largest Crypto Exchange Nobitex for Terror Finance

WASHINGTON, June 2, 2026 — The US Treasury’s Office of Foreign Assets Control designated Iran’s largest cryptocurrency exchange Nobitex along with three other digital-asset platforms and five senior executives for facilitating payments tied to terrorist activities, sanctions evasion, and Islamic Revolutionary Guard Corps-linked ransomware.

Nobitex processed more than 50 percent of all Iranian digital-asset inflows in 2025. Also designated were Wallex, Bitpin, and Ramzinex under the same authorities. The individuals named include Nobitex Chairman Amir Hossein Rad, born March 21 1986; co-founders Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali; and CEO Seyed Ali Khoee.

The designations were issued pursuant to Executive Order 13902, which targets persons operating in the Iranian financial sector, and Executive Order 13224 as amended, which blocks property of persons who provide support to specially designated global terrorists including the IRGC.

Per the OFAC notice, all property and interests in property of the designated persons that are in the United States or in the possession or control of any US person must be blocked.

The action immediately prohibits US persons from engaging in any transactions with the four platforms or the named individuals. Non-US persons now face secondary sanctions risk if they continue to provide material support to the designated entities. The designations take effect on the date of the Federal Register notice, June 2 2026.

Downstream, the move severs major digital channels the Iranian regime has used to move funds outside the traditional banking system. It requires foreign financial institutions and crypto service providers to conduct enhanced due diligence to avoid facilitating transactions with the sanctioned parties or risk losing access to the US financial system.

US persons holding any digital assets issued through or custodied by these platforms must cease activity and may need to report blocked property to OFAC.

This is the most significant US action to date targeting Iran’s domestic crypto infrastructure under the Economic Fury campaign. The Treasury has previously sanctioned smaller Iranian exchanges and facilitators, but Nobitex’s market dominance made it the primary conduit for the volume of crypto inflows now restricted.