A Reuters investigation published on March 25, 2025, reveals that Nobitex, Iran’s largest cryptocurrency exchange, has moved at least $2.3 billion since 2023 for sanctioned entities, including the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC). The platform allegedly launders funds through the Tron (TRX) and BNB Smart Chain (BSC) networks, exploiting what the report describes as lax surveillance under the Trump administration’s pro-crypto policy stance.
Nobitex facilitates transactions for organizations blacklisted by the U.S. Treasury, using Tron and BSC networks to bypass traditional banking restrictions due to their faster settlement times and lower fees. Key findings include: $2.3 billion in transaction volume since 2023, funds linked to the Central Bank of Iran and the IRGC, management by children of influential Iranian families, and primary use of Tron and BSC. The exchange does not require Know Your Customer (KYC) verification for certain transactions, enabling anonymous fund transfers.
Blockchain analysts traced transactions from Nobitex to wallets controlled by the IRGC, finding patterns consistent with money laundering, including layering through multiple addresses and mixing services. Specific wallet addresses linked to the Central Bank of Iran received over $800 million in USDT since 2023, with funds then moving to exchanges in Turkey and the United Arab Emirates.
Meanwhile, Iranian media has forcefully denied a separate report claiming that Iran plans to collect passage fees in cryptocurrency for vessels transiting the Strait of Hormuz. On January 17, 2025, Fars News Agency issued a statement categorically rejecting the narrative as completely unfounded, emphasizing that no such policy exists within Iran’s maritime or financial regulatory frameworks.
