Crypto Exchange in Iran Faces U. S. Sanctions Over Terrorist Links

The United States Treasury’s Office of Foreign Assets Control (OFAC) has slapped sanctions on four Iranian cryptocurrency platforms, singling out Nobitex as the country’s biggest exchange. The move follows evidence that the firm helped the Iranian regime funnel digital assets to avoid international restrictions and support terrorist groups linked to the Islamic Revolutionary Guard Corps (IRGC). OFAC reports that Nobitex handled more than half of all crypto inflows in 2025, giving the central bank access to vast amounts of stablecoins that were used to support a rapidly falling rial. The agency also accused the exchange of moving money out of Iran during periods of internet shutdowns, a tactic that would protect the regime’s wealth from foreign scrutiny. In addition to targeting Nobitex, OFAC imposed sanctions on three other Iranian exchanges—Wallex, Bitcoin, and Ramzinex. The department warned that any person or institution dealing with these firms could face penalties, and offered rewards for whistleblowers who provide evidence of illicit activity. The sanctions list also names Nobitex’s founder, Amir Hossein Rad, and several other senior officials.Earlier investigations by international news outlets highlighted that Nobitex was founded in 2018 by members of a prominent Iranian family closely tied to the nation’s supreme leader. The company has grown rapidly, claiming 11 million users and processing about 70 percent of all crypto transactions in Iran. Its rapid expansion and close connections to the government made it a likely target for U. S. enforcement, yet it had not been sanctioned until now. The crackdown comes amid reports that a hacker group claiming Israeli support, “Predatory Sparrow, ” stole $48 million in crypto from Nobitex. The theft is said to have deprived the Iranian regime of funds used for terrorist operations. In response, U. S. officials emphasized that working with platforms that facilitate terrorism financing exposes assets to risk and potential loss. These developments illustrate how digital currencies can be weaponized by authoritarian regimes to sidestep sanctions and fund extremist activities. They also demonstrate the international community’s growing willingness to use economic tools to counter such threats, even when it means targeting major domestic financial institutions. The sanctions are expected to disrupt the flow of digital assets into Iran, limit the regime’s ability to support hostile actors, and signal a broader strategy aimed at curbing Iran’s influence in the cyber‑financial arena. However, the effectiveness of these measures will depend on global cooperation and the resilience of underground networks that continue to adapt.