US Sanctions Four Iranian Crypto Exchanges Amid 'Economic Fury' Campaign

The US Department of the Treasury has imposed sanctions on four Iranian cryptocurrency exchanges in its 'Economic Fury' crackdown. The Office of Foreign Assets Control (OFAC) designated Nobitex, Wallex, Bitpin, and Ramzinex on June 2, along with four Iranian nationals tied to the exchanges.

Nobitex is the largest exchange in Iran, handling over 50% of all cryptocurrency inflows in 2025. The other three exchanges account for around 22% combined. Four Iranian individuals were also named, primarily executives from Nobitex, who now have their US-linked assets frozen.

The Treasury Secretary framed the action as part of a broader strategy to target Iran's nefarious activities. Allegations include links to the Islamic Revolutionary Guard Corps (IRGC) and connections to ransomware operations.