U.S. Treasury Designates Nobitex, Iran's Largest Crypto Exchange, in 'Operation Economic Fury'

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) officially designated Nobitex, Iran's largest cryptocurrency exchange, alongside three other domestic platforms, according to federal authorities. Dubbed "Operation Economic Fury," the action targets infrastructure the Trump administration alleges functioned as a central node for Iranian state-sanctioned capital evasion.

Blockchain intelligence data shows Nobitex processed approximately $5 billion in gross transaction volume, commanding over 50% of digital asset inflows into Iran. Treasury alleges the exchange was co-opted by the Central Bank of Iran to access stablecoins and prop up the Iranian rial, while also serving as a gateway for the Islamic Revolutionary Guard Corps and terror-financing networks. OFAC's designations directly target Nobitex co-founder and chairman Amir Hossein Rad and Chief Executive Officer Seyed Ali Khoee. By blacklisting Nobitex alongside Wallex, Bitpin, and Ramzinex, Washington has imposed secondary sanctions risks for global Web3 entities interacting with these flagged Iranian platforms.