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Every state-changing event for Iran IRGC Crypto Exchange Network (OFAC Sectoral Sanctions): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-09-18 23:28:45Z
   Score: ? → ? (no score change)
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   qzxJ7jHd6Swk…BXu3tNXkcopyexplorer ↗

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   k3HmoB6HVUm3…kHyWmCMPcopysha256 → base58

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   {"actor":"system:backfill","investigation_id":"4b7ea583-49b4-4c5e-9cf2-b3cf0ff45c28","kind":"publish","page_slug":"iran-irgc-crypto-exchange-network-ofac-sectoral-sanctions","published_at":"2026-09-18T23:28:45.314Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Iran IRGC Crypto Exchange Network (OFAC Sectoral Sanctions)","sections":[{"content":"On August 24, 2026, the U.S. Treasury Department launched 'Operation Economic Outcast,' which it described as a broad economic campaign against Iran. As part of that campaign, OFAC issued five determinations pursuant to Executive Order 13902 targeting the aviation, digital asset, gold, shipping, and technology sectors of the Iranian economy. This was the first time OFAC had designated digital assets as a sanctionable sector of Iran's economy, a shift from earlier practice of sanctioning individually named exchanges toward authorizing sanctions against any foreign person or entity operating in or supporting the sector as a whole, regardless of a direct link to terrorism or weapons proliferation. Treasury Secretary Scott Bessent, who had previewed the campaign as 'Economic D-Day,' stated that Treasury would 'hunt down and dismantle illicit financial networks that keep the regime afloat.' The August 24 action also designated nearly 60 entities, individuals, and vessels connected to nuclear and missile procurement, cyber operations, and oil-revenue generation, and suspended several general licenses. Legal analysts noted that the determination creates fresh secondary-sanctions exposure for global crypto exchanges, over-the-counter desks, custodians, and other virtual asset service providers whose activities could be construed as supporting Iran's digital asset sector.","heading":"August 24, 2026 Sectoral Determination — Digital Assets Named a Sanctionable Sector","severity":"critical","sources":[{"credibility":2,"name":"Sullivan & Cromwell LLP — Treasury Department Launches Operation Economic Outcast","type":"research","url":"https://www.sullcrom.com/insights/memo/2026/August/Treasury-Department-Launches-Operation-Economic-Outcast"},{"credibility":2,"name":"TRM Labs — Operation Economic Outcast: Treasury Sanctions Nearly 60 Iran-linked Targets and Names Digital Assets a Sanctionable Sector","type":"research","url":"https://www.trmlabs.com/resources/blog/operation-economic-outcast-treasury-sanctions-nearly-60-iran-linked-targets-and-names-digital-assets-a-sanctionable-sector"},{"credibility":2,"name":"CryptoTimes — US Treasury Names Digital Assets a Sanctionable Sector of Iran's Economy","type":"news_article","url":"https://www.cryptotimes.io/2026/08/25/us-treasury-names-digital-assets-a-sanctionable-sector-of-irans-economy/"},{"credibility":2,"name":"Paul Hastings LLP — Treasury Issues Additional Iran-Related Sanctions ... Under Operation Economic Outcast","type":"research","url":"https://www.paulhastings.com/insights/client-alerts/treasury-issues-additional-iran-related-sanctions-suspends-general-licenses-and-pledges-additional-action-under-operation-economic-outcast"}]},{"content":"On June 2, 2026, OFAC designated Nobitex — described by Treasury as Iran's largest digital asset exchange, said to have processed more than half of all Iranian digital asset inflows in 2025 — along with three other Iranian exchanges, Wallex, Bitpin, and Ramzinex, under Executive Order 13224 (material support to the IRGC) and Executive Order 13902 (operating in Iran's financial sector). According to blockchain-analytics firm Elliptic, the four sanctioned exchanges had collectively sent or received cryptoasset transactions totaling at least $40 billion, and none of the four had appeared on OFAC's Specially Designated Nationals (SDN) list before June 2, 2026. Individuals named in connection with the exchanges included Nobitex chairman and co-founder Amir Hossein Rad, Ramzinex co-founders Ali Aghamir and Mohammad Aghamir (reported to belong to a family with ties to Iran's Supreme Leader), and Ramzinex CEO Seyed Ali Khoee. Treasury said Wallex received roughly 12% and Bitpin roughly 10% of Iranian digital asset inflows in 2025, and that Ramzinex, founded in Tehran in 2018, processed transactions including transfers to IRGC-linked wallets. This action was described by industry commentators as the largest crypto-specific OFAC action against Iranian exchange infrastructure to date at the time.","heading":"June 2026: Designation of Nobitex, Wallex, Bitpin, and Ramzinex","severity":"critical","sources":[{"credibility":2,"name":"Elliptic — OFAC sanctions Nobitex and three other Iranian cryptoasset exchanges","type":"research","url":"https://www.elliptic.co/insights/ofac-sanctions-nobitex-and-three-other-iranian-cryptoasset-exchanges/"},{"credibility":2,"name":"Scorechain — OFAC Sanctions Iran's Four Largest Crypto Exchanges","type":"research","url":"https://www.scorechain.com/blog/ofac-iran-crypto-sanctions-june-2026"},{"credibility":2,"name":"Unchained — US Treasury Sanctions Iran's Largest Crypto Exchange Nobitex Along With Three Other Iranian Platforms","type":"news_article","url":"https://unchainedcrypto.com/us-treasury-sanctions-irans-largest-crypto-exchange-nobitex-along-with-three-other-iranian-platforms-under-economic-fury-campaign/"}]},{"content":"On August 7, 2026, OFAC announced sanctions against Shelbit Exchange (a Georgia-based digital asset exchange), Iran-based exchange Aban Tether, and Iranian-born Siavash Kayvanpour, described by Treasury as the 'ringleader of a network of front companies' operating across Georgia, Poland, and the United Arab Emirates, including Shelbit General Trading LLC, Shelbit Technologies Ltd, Crypto Home DMCC, and NFT Home DMCC. According to Treasury's press release, digital currency addresses linked to Iran's armed forces sent over $1 million in crypto to Shelbit addresses, while more than $2 million moved from Shelbit back to Iranian wallets; addresses linked to Kayvanpour separately sent over $2 million to the previously designated Nobitex exchange; and tens of millions of dollars were said to have been laundered through an online gambling network via Shelbit. Aban Tether was alleged to have processed millions of dollars in transactions with the previously sanctioned Nobitex, Wallex, Bitpin, and Ramzinex exchanges. Treasury Secretary Scott Bessent said the action demonstrated that the administration's earlier 'Economic Fury' sanctions campaign 'is working.' The action was taken under Executive Order 13224, and the State Department's Rewards for Justice program separately offered up to $15 million for information on IRGC financial networks.","heading":"August 7, 2026: Shelbit Exchange, Aban Tether, and the Kayvanpour Network","severity":"critical","sources":[{"credibility":1,"name":"U.S. Department of the Treasury — Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"official","url":"https://home.treasury.gov/news/press-releases/sb0598"},{"credibility":2,"name":"CoinDesk — U.S. widens Iran crypto crackdown with sanctions on two exchanges","type":"news_article","url":"https://www.coindesk.com/policy/2026/08/07/u-s-widens-iran-crypto-crackdown-with-sanctions-on-two-exchanges"},{"credibility":1,"name":"GlobalSecurity.org — Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"official","url":"https://www.globalsecurity.org/wmd/library/news/iran/2026/08/iran-260807-treasury01.htm"}]},{"content":"On September 17, 2026, OFAC designated BitBank, a digital asset exchange it said is controlled by previously designated Iranian financier Babak Zanjani, along with BitBank's software developer, Pishtaz Simorgh Electronic Trade Company, and three Zanjani associates — Hossein Ali Zaker Hossein, Mohammad Mahdi Zaker Hossein, and Seyed Adel Heidari. Treasury alleged that between June and July 2026, Zanjani used BitBank to arrange bitcoin transfers worth hundreds of millions of dollars that reached the IRGC. Zanjani is a financier who had previously been sentenced to death in Iran over embezzlement from the National Iranian Oil Company; that sentence was reportedly commuted around 2024, after which he allegedly rebuilt a financial network using digital assets. The designations were issued under Executive Order 13902, applying the newly established digital-asset sectoral authority from the August 24, 2026 determination. Treasury Secretary Scott Bessent said: 'If you support the Iranian regime, the Department of the Treasury will sanction you.'","heading":"September 17, 2026: BitBank, Pishtaz Simorgh, and the Zanjani Network","severity":"critical","sources":[{"credibility":1,"name":"U.S. Department of the Treasury — Operation Economic Outcast Disrupts Digital Asset Exchange Enabling the Iranian Regime","type":"official","url":"https://home.treasury.gov/news/press-releases/sb0632"},{"credibility":2,"name":"The Block — US sanctions Iranian crypto exchange BitBank over alleged bitcoin transfers to IRGC","type":"news_article","url":"https://www.theblock.co/news/regulation/2026-09-17-us-sanctions-iranian-crypto-exchange-bitbank-alleged-bitcoin-transfers-to-irgc-415462"},{"credibility":2,"name":"TRM Labs — OFAC Sanctions BitBank, Expanding Action Against Babak Zanjani's Digital Asset Network","type":"research","url":"https://www.trmlabs.com/resources/blog/ofac-sanctions-bitbank-expanding-action-against-babak-zanjanis-digital-asset-network"}]},{"content":"Blockchain analytics firm Chainalysis reported that IRGC-associated addresses accounted for over 50% of total value received in Iran's crypto economy in the fourth quarter of 2025, with volumes surpassing $3 billion for 2025 as a whole. Treasury's own press materials describe the sanctioned exchange network as having been used to 'launder billions of dollars' in support of the IRGC. Separately, in the same August 2026 campaign, OFAC designated a cyber-espionage unit within Iran's Ministry of Intelligence and Security (MOIS), including alleged co-leader Behzad Mesri and members Keyvan Fayyaz Ghareh Blagh and Arman Kahzadian, whose cryptocurrency wallets were flagged by investigators; and designated Ivan Obukhov, a UAE-based Ukrainian national alleged to have processed more than $100 million in cryptocurrency payments since 2023 to facilitate oil sales on behalf of the IRGC's Quds Force. These figures originate from Treasury statements and blockchain-analytics research rather than from independently audited financial records, and should be read as allegations rather than adjudicated findings.","heading":"Alleged Scale of IRGC Cryptocurrency Flows","severity":"high","sources":[{"credibility":2,"name":"Chainalysis — OFAC Targets Ministry of Intelligence, Crypto-for-Oil Payments in Latest Iran Sanctions","type":"research","url":"https://www.chainalysis.com/blog/ofac-iran-oil-payments-august-2026/"},{"credibility":1,"name":"U.S. Department of the Treasury — Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"official","url":"https://home.treasury.gov/news/press-releases/sb0598"}]},{"content":"The August 24, 2026 sectoral determination was issued under Executive Order 13902, which allows OFAC to designate any person determined to operate in a specified sector of the Iranian economy — now including digital assets, alongside aviation, gold, shipping, and technology, in addition to previously covered sectors such as construction, mining, manufacturing, textiles, financial, petroleum, and petrochemical sectors. Legal analysts note that under this framework, foreign financial institutions and virtual asset service providers face potential secondary sanctions — including restrictions on U.S. correspondent or payable-through accounts — for knowingly conducting or facilitating significant transactions connected to Iran's digital asset sector, even without a direct nexus to terrorism financing or weapons proliferation. Commentators have characterized this as a material expansion of sanctions risk for exchanges, OTC desks, custodians, and infrastructure providers worldwide that may unknowingly process transactions connected to Iranian digital-asset activity.","heading":"Legal Mechanism and Secondary Sanctions Exposure for Global Crypto Businesses","severity":"high","sources":[{"credibility":2,"name":"Sullivan & Cromwell LLP — Treasury Department Launches Operation Economic Outcast","type":"research","url":"https://www.sullcrom.com/insights/memo/2026/August/Treasury-Department-Launches-Operation-Economic-Outcast"},{"credibility":2,"name":"TRM Labs — Operation Economic Outcast: Treasury Sanctions Nearly 60 Iran-linked Targets and Names Digital Assets a Sanctionable Sector","type":"research","url":"https://www.trmlabs.com/resources/blog/operation-economic-outcast-treasury-sanctions-nearly-60-iran-linked-targets-and-names-digital-assets-a-sanctionable-sector"}]}],"sources_used":[{"credibility":1,"name":"U.S. Department of the Treasury — Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"official","url":"https://home.treasury.gov/news/press-releases/sb0598"},{"credibility":1,"name":"U.S. Department of the Treasury — Operation Economic Outcast Disrupts Digital Asset Exchange Enabling the Iranian Regime","type":"official","url":"https://home.treasury.gov/news/press-releases/sb0632"},{"credibility":1,"name":"GlobalSecurity.org — Treasury Sanctions Crypto Exchanges Funding Iran's IRGC and Enabling Illicit Finance","type":"official","url":"https://www.globalsecurity.org/wmd/library/news/iran/2026/08/iran-260807-treasury01.htm"},{"credibility":2,"name":"CoinDesk — U.S. widens Iran crypto crackdown with sanctions on two exchanges","type":"news_article","url":"https://www.coindesk.com/policy/2026/08/07/u-s-widens-iran-crypto-crackdown-with-sanctions-on-two-exchanges"},{"credibility":2,"name":"The Block — US sanctions Iranian crypto exchange BitBank over alleged bitcoin transfers to IRGC","type":"news_article","url":"https://www.theblock.co/news/regulation/2026-09-17-us-sanctions-iranian-crypto-exchange-bitbank-alleged-bitcoin-transfers-to-irgc-415462"},{"credibility":2,"name":"Elliptic — OFAC sanctions Nobitex and three other Iranian cryptoasset exchanges","type":"research","url":"https://www.elliptic.co/insights/ofac-sanctions-nobitex-and-three-other-iranian-cryptoasset-exchanges/"},{"credibility":2,"name":"Scorechain — OFAC Sanctions Iran's Four Largest Crypto Exchanges","type":"research","url":"https://www.scorechain.com/blog/ofac-iran-crypto-sanctions-june-2026"},{"credibility":2,"name":"Unchained — US Treasury Sanctions Iran's Largest Crypto Exchange Nobitex Along With Three Other Iranian Platforms","type":"news_article","url":"https://unchainedcrypto.com/us-treasury-sanctions-irans-largest-crypto-exchange-nobitex-along-with-three-other-iranian-platforms-under-economic-fury-campaign/"},{"credibility":2,"name":"TRM Labs — Operation Economic Outcast: Treasury Sanctions Nearly 60 Iran-linked Targets and Names Digital Assets a Sanctionable Sector","type":"research","url":"https://www.trmlabs.com/resources/blog/operation-economic-outcast-treasury-sanctions-nearly-60-iran-linked-targets-and-names-digital-assets-a-sanctionable-sector"},{"credibility":2,"name":"TRM Labs — OFAC Sanctions BitBank, Expanding Action Against Babak Zanjani's Digital Asset Network","type":"research","url":"https://www.trmlabs.com/resources/blog/ofac-sanctions-bitbank-expanding-action-against-babak-zanjanis-digital-asset-network"},{"credibility":2,"name":"Chainalysis — OFAC Targets Ministry of Intelligence, Crypto-for-Oil Payments in Latest Iran Sanctions","type":"research","url":"https://www.chainalysis.com/blog/ofac-iran-oil-payments-august-2026/"},{"credibility":2,"name":"Sullivan & Cromwell LLP — Treasury Department Launches Operation Economic Outcast","type":"research","url":"https://www.sullcrom.com/insights/memo/2026/August/Treasury-Department-Launches-Operation-Economic-Outcast"},{"credibility":2,"name":"Paul Hastings LLP — Treasury Issues Additional Iran-Related Sanctions ... Under Operation Economic Outcast","type":"research","url":"https://www.paulhastings.com/insights/client-alerts/treasury-issues-additional-iran-related-sanctions-suspends-general-licenses-and-pledges-additional-action-under-operation-economic-outcast"},{"credibility":2,"name":"CryptoTimes — US Treasury Names Digital Assets a Sanctionable Sector of Iran's Economy","type":"news_article","url":"https://www.cryptotimes.io/2026/08/25/us-treasury-names-digital-assets-a-sanctionable-sector-of-irans-economy/"}],"summary":"Between June and September 2026, the U.S. Treasury's Office of Foreign Assets Control (OFAC) designated a network of Iranian and Iran-linked cryptocurrency exchanges — including Nobitex, Wallex, Bitpin, Ramzinex, Shelbit Exchange, Aban Tether, and BitBank — for allegedly laundering funds on behalf of Iran's Islamic Revolutionary Guard Corps (IRGC) and helping the Iranian regime evade sanctions. On August 24, 2026, as part of a campaign named 'Operation Economic Outcast,' OFAC issued a first-of-its-kind sectoral determination under Executive Order 13902 naming digital assets a sanctionable sector of Iran's economy, extending secondary-sanctions risk to any foreign person or entity operating in or supporting that sector, not just entities with direct terrorism links. Treasury and blockchain-analytics research describe IRGC-associated wallets as having received billions of dollars in cryptocurrency in 2025 alone.","timeline":[{"date":"2024","event":"Iranian financier Babak Zanjani, previously sentenced to death in Iran for embezzlement from the National Iranian Oil Company, reportedly had his sentence commuted, after which Treasury alleges he rebuilt a financial network later used to move cryptocurrency to the IRGC.","source":"U.S. Department of the Treasury","source_url":"https://home.treasury.gov/news/press-releases/sb0632"},{"date":"2026-06-02","date_evidence":"Before June 2, 2026, none of the four exchanges appeared on the SDN List.","event":"OFAC designates Nobitex, Wallex, Bitpin, and Ramzinex — described as Iran's four largest cryptocurrency exchanges — under Executive Orders 13224 and 13902.","source":"Elliptic","source_url":"https://www.elliptic.co/insights/ofac-sanctions-nobitex-and-three-other-iranian-cryptoasset-exchanges/"},{"date":"2026-08-07","date_evidence":"WASHINGTON—August 7, 2026","event":"OFAC sanctions Shelbit Exchange, Aban Tether, and Siavash Kayvanpour along with a network of associated front companies in Georgia, Poland, and the UAE, alleging billions of dollars laundered on behalf of the IRGC.","source":"U.S. Department of the Treasury","source_url":"https://home.treasury.gov/news/press-releases/sb0598"},{"date":"2026-08-24","date_evidence":"As of August 24, 2026, any person determined to operate in the broadly defined aviation, digital asset, gold, shipping, or technology sectors of the Iranian economy ... is at risk of being designated as an SDN.","event":"Treasury launches 'Operation Economic Outcast'; OFAC issues a first-of-its-kind sectoral determination under Executive Order 13902 naming digital assets a sanctionable sector of Iran's economy, alongside aviation, gold, shipping, and technology, and designates nearly 60 additional entities, individuals, and vessels.","source":"Sullivan & Cromwell LLP","source_url":"https://www.sullcrom.com/insights/memo/2026/August/Treasury-Department-Launches-Operation-Economic-Outcast"},{"date":"2026-09","date_evidence":"The U.S. Treasury Department sanctioned Iranian crypto exchange BitBank on Thursday","date_original":"2026-09-17","event":"OFAC designates BitBank and its software developer, Pishtaz Simorgh Electronic Trade Company, along with three associates of financier Babak Zanjani, alleging hundreds of millions of dollars in bitcoin transfers to the IRGC between June and July 2026.","source":"The Block","source_url":"https://www.theblock.co/news/regulation/2026-09-17-us-sanctions-iranian-crypto-exchange-bitbank-alleged-bitcoin-transfers-to-irgc-415462"}]},"v":1}

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