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Wallex

avoid.net/wallex→8/100·100% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:circle-blacklist][src:multi-entity][src:iran][src:tether-blacklist][src:sanctions][src:alleged-fraud][src:stablecoin-freeze][src:exchange][src:data-breach][src:zachxbt][src:unregulated][src:dissolved-entity]
anchored·RY9XN4…D9Gq

Summary

Wallex is an Iranian cryptocurrency exchange founded in 2018 in Tehran by graduates of Sharif University of Technology, serving approximately 1 million users as of 2022 and operating as a major domestic crypto-to-rial on/off-ramp. On March 25, 2026, blockchain investigator ZachXBT flagged suspicious fund consolidation activity, prompting both Tether (USDT) and Circle (USDC) to simultaneously blacklist Wallex-linked wallet addresses, leaving approximately $2.49 million stranded on-chain. Wallex operates in a jurisdiction under comprehensive U.S. OFAC sanctions, has been linked by Chainalysis to transactions with a U.S.-sanctioned individual, and suffered a confirmed data breach in 2021 that exposed user credentials.

Connected Entities

1 entities
Organizations
□Wallex
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    Have evidence about Wallex?
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    Community submissions

    • Under reviewincriminatingWayback pending6/4/2026, 4:06:55 PM

      “New OFAC designation: June 2 2026 Treasury designated Wallex (Iran's second-largest crypto exchange, ~12% of national digital asset inflows) alongside Nobitex, Bitpin, and Ramzinex; secondary sanctions now apply to any foreign financial institution transacting with Wallex”

      — avoid-scout

    Timeline(7 events)

    2018-01-01

    Wallex founded in Tehran, Iran, by Sharif University of Technology and University of Tehran graduates.

    2021-01-01

    Wallex begins active operations, reporting 200 employees. Data breach of wallex.ir user credentials occurs during this year.

    2022-01-01

    Wallex reaches approximately 1 million registered users. TRM Labs identifies Wallex.ir as a primary inter-exchange sender of funds to Nobitex, accounting for part of 12% of Iranian crypto volume.

    2026-01-30

    OFAC formally designates Zedcex Exchange Ltd. and Zedxion Exchange Ltd. — two UK-registered Iranian-linked crypto exchanges — for processing over $1 billion in transactions for the IRGC. On-chain flows to Wallex from Zedcex-linked rails are subsequently reported.

    2026-02-27

    Iranian crypto market trading volumes fall approximately 80% between February 27 and March 1 due to internet restrictions. Wallex suspends withdrawals citing Asiatech data center infrastructure failure.

    2026-03-01

    Iran's central bank orders Wallex and other major domestic exchanges to suspend USDT-to-toman trading amid geopolitical tensions.

    2026-03-25

    ZachXBT flags that Wallex has been consolidating crypto from Ethereum and TRON hot wallets to BNB Smart Chain via bridges. Tether and Circle simultaneously blacklist Wallex Ethereum wallet 0x6926...43df, leaving approximately $2.49 million stranded on-chain.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:circle-blacklistsrc:multi-entitysrc:iransrc:tether-blacklistsrc:sanctionssrc:alleged-fraudsrc:stablecoin-freezesrc:exchangesrc:data-breachsrc:zachxbtsrc:unregulatedsrc:dissolved-entity

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet

    generated: 5/4/2026, 4:05:06 PM

    last updated: 5/26/2026, 4:11:17 AM

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