The U.S. Treasury Department has sanctioned four Iranian cryptocurrency exchanges, including Nobitex, as part of an "Economic Fury" operation launched in April 2026. According to the report, authorities have frozen nearly $1 billion in crypto assets and traced $3.84 billion that moved through CoinEx. The reported flows were tied to wallets linked to Iran’s central bank and to the North Korean actors associated with the Bybit hack. Chainalysis estimated that crypto outflows from Iran reached $4.18 billion in 2025, up 70% year over year. The report added that while centralized stablecoins such as USDT can be frozen, decentralized protocols and cross-chain transactions still provide routes for sanctions evasion. Executives at the affected exchanges have now been added to the Office of Foreign Assets Control, or OFAC, list, and the Treasury Department is continuing to monitor blockchain fund flows.
The U.S. Treasury Department has sanctioned four Iranian cryptocurrency exchanges, including Nobitex, in what the report described as part of the "Economic Fury" operation launched in April 2026.
According to the report, authorities have frozen nearly $1 billion in crypto assets and traced $3.84 billion that moved through CoinEx. Those flows were said to involve wallets linked to Iran’s central bank and to the North Korean actors associated with the Bybit hack.
Chainalysis estimated that crypto outflows from Iran reached $4.18 billion in 2025, a 70% increase from a year earlier. The report also said that although centralized stablecoins such as USDT can be frozen, decentralized protocols and cross-chain transactions still offer channels that can be used to evade sanctions.
Executives at the exchanges involved have been placed on the OFAC list, and the Treasury Department is continuing to monitor fund movements on blockchain networks.
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