US Treasury Sanctions Iran’s Four Largest Crypto Exchanges

• OFAC sanctioned Nobitex, Wallex, Bitpin, and Ramzinex, targeting most Iranian crypto inflows.
• Nobitex processed stablecoin transfers for Iran’s central bank to prop up the collapsing Iranian rial.
• Four Nobitex executives, including co-founders, are tied to Supreme Leader Khamenei’s inner circle.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four Iranian cryptocurrency exchanges on June 2, representing the largest single enforcement action ever taken against Iran’s digital asset economy.

The exchanges sanctioned are:

• Nobitex: Iran’s largest crypto exchange, handling over 50% of all Iranian digital asset inflows in 2025
• Wallex: Iran’s second-largest exchange, accounting for 12% of Iranian crypto inflows
• Bitpin: Received 10% of Iranian digital asset inflows in 2025
• Ramzinex: Founded in 2018, processed over $2.45 bi…

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