U.S. sanctions Iran’s Nobitex, $100M crypto flows alleged

• Nobitex accused of aiding Iranian state actors, terror financing
• U.S. persons barred from transactions; foreign banks risk secondary sanctions

The U.S. Treasury sanctioned Nobitex, Iran’s largest crypto exchange, on June 2, 2026, for alleged ties to terror financing, Reuters reported. Nobitex, its CEO Amir Hossein Rad, and two brothers identified as controllers are accused of helping Iranian government entities—including the Islamic Revolutionary Guard Corps (IRGC) and central bank—evade Western sanctions through cryptocurrency transactions.

According to the Treasury, Nobitex processed hundreds of millions of dollars in digital assets linked to Iranian state actors. The exchange allegedly enabled terror financing and assisted in moving regime assets abroad, especially during and after recent U.S. combat operations in Iran. Sanctions also target three other crypto platforms for similar activities.

Nobitex denied direct involvement with the Iranian government or sanctioned entities, claiming any illicit funds on its platform were handled without management’s knowledge. Despite these denials, U.S. authorities included Nobitex’s leadership and stakeholders in the sanctions.

Under these restrictions, all U.S. persons and entities are prohibited from dealing with Nobitex, its founders, and related businesses. Foreign financial institutions that continue working with Nobitex could face secondary U.S. sanctions, potentially limiting their access to the American financial system. The Treasury described the move as part of its “Economic Fury” campaign against Iran’s financial networks.

Reuters noted that U.S. regulators aim to disrupt the alleged illicit use of cryptocurrency by Iranian state actors and strengthen enforcement of financial restrictions amid ongoing geopolitical tensions.