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BitBank (Iranian Crypto Exchange)

avoid.net/bitbank-iranian-crypto-exchange→2/100·92% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·DB3Sfq…mkeZ

Summary

BitBank, also known as BitBank3 and operating at bitbank3.com, is an Iranian digital asset exchange designated by the U.S. Treasury's Office of Foreign Assets Control (OFAC) on September 17, 2026. According to OFAC, the exchange is a priority digital asset venture controlled by sanctioned Iranian financier Babak Zanjani, and was used between June and July 2026 to transfer hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps (IRGC). The designation is part of Operation Economic Outcast, a broader U.S. government campaign to sever financial channels used by the Iranian regime.

Connected Entities

6 entities · 60 linked investigations
Organizations
□Nobitex5□Aban Tether0□Nobitex / Wallex / Bitpin / Ramzinex0
Exchanges
△BitBank (Iranian Crypto Exchange)△Zedcex / Zedxion / Babak Morteza Zanjani (IRGC-linked exchanges)0
Tokens
♦Bitcoin62
Relationships
  • Aban Tether→mentioned with→Nobitex(70%)
  • Aban Tether→mentioned with→Bitcoin(60%)
  • Nobitex / Wallex / Bitpin / Ramzinex→mentioned with→Bitcoin(65%)
  • Nobitex / Wallex / Bitpin / Ramzinex→mentioned with→Nobitex(80%)
  • BitBank (Iranian Crypto Exchange)→mentioned with→Nobitex / Wallex / Bitpin / Ramzinex(60%)
  • BitBank (Iranian Crypto Exchange)→mentioned with→Nobitex(60%)
  • BitBank (Iranian Crypto Exchange)→mentioned with→Aban Tether(75%)
  • BitBank (Iranian Crypto Exchange)→mentioned with→Bitcoin(80%)
  • Nobitex→mentioned with→Bitcoin(65%)
  • Nobitex→mentioned with→Zedcex / Zedxion / Babak Morteza Zanjani (IRGC-linked exchanges)(60%)
  • + 4 more
Also appears in
Bitcoin·62Aban Tether·0Nobitex / Wallex / Bitpin / Ramzinex·0Lendf.me·30Shibarium·28Ruslan Igorevich Tkachuk·2SafePal·42Bitcoin Xchange (Syria-based, ISIS-Linked)·0Abdelhakim Boukich·0Siavash Kayvanpour·0+ 50 more

Connected Through

6 shared actors · 500 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about BitBank (Iranian Crypto Exchange)?

Timeline(9 events)

1 March 2016

Babak Zanjani sentenced to death by Iranian courts for embezzling from the National Iranian Oil Company (NIOC).

Iran International

30 April 2024

Zanjani's death sentence commuted to 20 years in prison, reportedly following repatriation of approximately $2.1 billion in assets.

Iran International

1 April 2025

DotOne Rail Company, a Zanjani-controlled entity, reportedly secured an $800 million rail contract with Iran Railways, signaling Zanjani's public re-emergence as a regime-linked economic actor.

U.S. Department of the Treasury (sb0576)

30 January 2026

OFAC designates Babak Zanjani and UK-registered exchanges Zedcex and Zedxion, accusing him of money laundering for the IRGC.

U.S. Department of the Treasury (sb0375)

1 June 2026

According to OFAC, Hormuz Safe Marine Services Authority begins using BitBank to transfer maritime toll payments to the Iranian regime. Zanjani also allegedly begins using BitBank to move Bitcoin to the IRGC.

TRM Labs / OFAC designation (September 17, 2026)

24 July 2026

OFAC designates Dot One Value Creation Group and nine associated entities, including Zedpay, Zedx DMCC, BZ Diamond, and multiple DotOne subsidiaries, as part of Operation Economic Outcast.

U.S. Department of the Treasury (sb0576)

29 July 2026

OFAC designates Hormuz Safe Marine Services Authority for operating an IRGC-backed Bitcoin-payment extortion scheme on Strait of Hormuz shipping lanes.

U.S. Department of the Treasury (sb0581)

24 August 2026

Treasury Secretary Bessent announces Operation Economic Outcast ('Economic D-Day'), a whole-of-government campaign targeting Iran's financial channels across five sectors including digital assets. OFAC issues a digital-asset sectoral determination enabling designation of any operator in Iran's crypto sector.

U.S. Department of the Treasury (sb0613)

17 September 2026

OFAC designates BitBank (also known as BitBank3), Pishtaz Simorgh Electronic Trade Company, Mohammad Mahdi Zaker Hossein, Seyed Adel Heidari, and Hossein Ali Zaker Hossein under Executive Order 13902 as part of Operation Economic Outcast.

U.S. Department of the Treasury / GlobalSecurity.org
Provenance & Audit Trail
Anchored on SolanaVerify on-chain15 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 15 of 18 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 9/18/2026, 5:03:45 PM

last updated: 9/18/2026, 8:46:46 PM

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