Economic Fury Targets Iran’s Largest Digital Asset Exchange for Terror Finance and Sanctions Evasion
WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Nobitex, Iran’s largest digital asset exchange, along with three other Iranian digital asset exchanges, as part of Economic Fury and the Trump Administration’s efforts to eliminate the threat posed by the Iranian regime.
“While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country. Iran’s current economic chaos is proof that President Trump’s maximum pressure campaign has been a success,” said Secretary of the Treasury Scott Bessent. “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.”
Nobitex has provided significant support to the regime, processing more than 50 percent of all Iranian digital asset inflows in 2025 and facilitating payments tied to Iran’s terrorist activities, sanctions evasion efforts, and Islamic Revolutionary Guard Corps (IRGC)-linked transactions, including activity associated with IRGC-affiliated ransomware actors. Nobitex also 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, while enabling regime insiders to access international digital asset exchanges and evade sanctions across multiple jurisdictions. Following the commencement of U.S. combat operations in Iran, Nobitex played a role in protecting and moving assets and funds out of Iran to shield regime wealth despite internet blackouts. OFAC today also designated Amir Hossein Rad—Nobitex’s chairman, co-founder, and former CEO—as well as numerous other Nobitex leaders and officials.
Today’s action is being taken pursuant to the counterterrorism authority, Executive Order (E.O.) 13224, as amended, as well as E.O. 13902, which targets persons operating in Iran’s financial sector, among other economic sectors. It continues the robust sanctions campaign in support of Economic Fury and in furtherance of the strategy outlined in the President’s National Security Presidential Memorandum 2 (NSPM-2), instituting a campaign of maximum economic pressure on Iran. For more information on sanctions risk associated with Iranian digital asset exchanges, please see FAQ 1250 and FAQ 1257. Additionally, the U.S. Department of State’s Rewards for Justice (RFJ) program is offering a reward of up to $15 million for information leading to the disruption of the financial mechanisms of Iran’s IRGC and its various branches. More information is available on the RFJ website.
ECONOMIC FURY DELIVERS MAXIMUM PRESSURE ON IRAN
The Treasury Department is maintaining maximum pressure on Iran and targeting the regime’s ability to generate, move, and repatriate funds. Treasury is aggressively advancing Economic Fury and has disrupted tens of billions of dollars’ worth of revenue from being otherwise accessible to the Iranian regime and its proxies. This includes actions that have led to the freezing of nearly half a billion dollars in regime-linked cryptocurrency. In addition, Treasury has cracked down on Tehran’s global shadow banking networks; designated networks supplying weapons and other military components to Iran; sanctioned a corrupt Iraqi official who has facilitated the sale of oil along with Iran-backed militias operating in Iraq; taken numerous actions against Iran’s terrorist proxies; and targeted shadow fleet vessels, companies, and other entities that sustain Iran’s illicit oil industry.
Through the blockade, the Trump Administration is directly targeting the regime’s primary revenue stream. Any person or vessel facilitating the illicit trade of oil or other commodities, through covert trade or financial channels, risks exposure to U.S. sanctions.
Treasury will continue to vigorously target both traditional sanctions evasion schemes and the exploitation of digital assets while continuing to freeze funds stolen from the Iranian people. Treasury is also prepared to take action against any foreign company supporting illicit Iranian commerce, including airlines, and, as necessary, may impose secondary sanctions on foreign financial institutions that facilitate Iran’s activities.
Additionally, Treasury recently warned of the sanctions risk associated with complying with Iranian demands for passage through the Strait of Hormuz such as “toll” payments, including payments made via fiat currency, digital assets, offsets, informal swaps, or other in-kind payments such as nominally charitable donations, and providing sensitive vessel information. On May 27, 2026, Treasury designated Iran’s so-called “Persian Gulf Strait Authority,” an IRGC-linked scheme to extort international shipping seeking to transit the Strait of Hormuz.
IRANIAN DIGITAL ASSET EXCHANGES: A TOOL FOR REGIME INSIDERS
Nobitex processed over 50 percent of all Iranian digital asset inflows in 2025 and has provided significant support to the Iranian regime. The company has facilitated a significant number of digital asset transactions linked to the IRGC, including transactions for wallets associated with IRGC-affiliated ransomware actors. For example, Nobitex has been used by OFAC-designated IRGC operatives. Nobitex allows Iranian regime insiders to access international digital asset exchanges and enables sanctions evasion across numerous jurisdictions.
As a vehicle for sanctions evasion, and in particular its previous connection to the Central Bank of Iran, Nobitex has contributed to the repression of the Iranian people and reportedly enables the Iranian government to conduct warrantless surveillance of Iranian civilians at a time of mass government repression. In addition, two of Nobitex’s co-founders are close associates of former Supreme Leader of Iran Ayatollah Ali Khamenei’s family. OFAC is designating Nobitex pursuant to E.O. 13224, as amended for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC and pursuant to E.O. 13902 for operating in the financial sector of the Iranian economy.
Amir Hossein Rad (Rad) is Nobitex’s chairman, co-founder, and former CEO. In June 2025, he helped Nobitex, which previously allowed the Iranian regime to evade sanctions and transfer wealth out of the country, to reconstitute its operations following a $90 million hack of the company on June 18, 2025. OFAC is designating Rad pursuant to E.O. 13224, as amended for being a leader or official of Nobitex and pursuant to E.O. 13902 for operating in the financial sector of the economy of Iran.
Seyed Mohammad Ali Aghamir Mohammad Ali (Ali Aghamir) is a Nobitex co-founder and a member of the Kharrazi family. The Kharrazi family is part of Supreme Leader Khamenei’s inner circle. OFAC is designating Ali Aghamir pursuant to E.O. 13224, as amended for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to, or in support of, Nobitex.
Seyed Mohammad Aghamir Mohammad Ali (Mohammad Aghamir) is a Nobitex co-founder and blockchain lead for the company. He is member of the Kharrazi family. OFAC is designating Mohammad Aghamir pursuant to E.O. 13224, as amended for being a leader or official of Nobitex.
Seyed Ali Khoee (Khoee) is the current CEO of Nobitex and previously served as its director of product and marketing. OFAC is designating Khoee pursuant to E.O. 13224, as amended for being a leader or official of Nobitex.
Wallex is Iran’s second-largest digital asset exchange by volume and received 12 percent of all Iranian digital asset inflows in 2025. It additionally has facilitated numerous transactions linked to the IRGC.
Bitpin is an Iranian digital asset exchange. It received 10 percent of all Iranian digital asset inflows in 2025 and has processed millions of dollars’ worth of transactions, including for transactions linked to the IRGC. Furthermore, Bitpin’s investors have reportedly been linked to Iranian efforts to evade U.S. sanctions.
Ramzinex is a digital asset exchange based in Tehran. Founded in 2018, Ramzinex has processed over $2.45 billion in transactions, including for transactions linked to the IRGC and a financial institution backed by the Iranian government, and has been used for sanctions evasion.
OFAC is designating Wallex, Bitpin, and Ramzinex pursuant to E.O. 13902 for operating in the financial sector of the Iranian economy.
SANCTIONS IMPLICATIONS
All property and interests in property of the persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.
Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person. Non-U.S. persons are also prohibited from causing or conspiring to cause U.S. persons to wittingly or unwittingly violate U.S. sanctions, as well as engaging in conduct that evades U.S. sanctions. Individuals located in the U.S. or abroad who provide information about sanctions violations to FinCEN’s whistleblower incentive program may be eligible for awards if the information they provide leads to a successful enforcement action that results in monetary penalties exceeding $1,000,000.
The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC’s guidance on Filing a Petition for Removal from an OFAC List.
Click here for more information on the persons designated and any property identified as blocked property today.
