unregulated

Wallex (legal name: Khalgh Sarvat Sarzamin Parseh / Khalq Tharwat Sarzamin Parseh Company) is Iran's second-largest cryptocurrency exchange by transaction volume, founded in 2018 in Tehran. On June 2, 2026, the U.S. Treasury's Office of Foreign Assets Control (OFAC) added Wallex to its Specially Designated Nationals (SDN) list under Executive Order 13902, citing its operation in the Iranian financial sector and its facilitation of transactions linked to the Islamic Revolutionary Guard Corps (IRGC). The designation was part of Operation Economic Fury, the largest-ever U.S. enforcement action targeting Iran's digital asset sector.

Metawin is an offshore crypto casino and gaming platform licensed under the Anjouan (Comoros) gaming authority, operated by Asobi N.V. from Curacao, and founded by Richard 'Skel' Skelhorn. On November 3, 2024, the platform suffered a significant hot wallet exploit across Ethereum and Solana blockchains resulting in approximately $4 million in stolen funds, with blockchain investigator ZachXBT tracing the stolen assets to KuCoin and a nested HitBTC service across more than 115 attacker-linked addresses. The CEO subsequently claimed to have personally covered the losses, restoring withdrawals for approximately 95% of affected users, though the platform's offshore jurisdictional status and the underlying security vulnerability raise ongoing concerns.