Nobitex, the largest cryptocurrency exchange in Iran, is accused of playing a key role in helping the country evade international sanctions.

Quotes that support claims

"Bypassing sanctions doesn't pay." Gonjeshke Darande wrote on X alongside screenshots of the "vanity" wallets storing the stolen funds.

Chainalysis added that past onchain investigations have linked Nobitex to illicit actors, including IRGC-affiliated ransomware operators and sanctioned Russian crypto exchanges.

"Nobitex isn’t just a local exchange; it serves as a critical hub within Iran’s heavily sanctioned crypto ecosystem, enabling access to global markets for users cut off from traditional finance," Chainalysis wrote.

Nobitex plays an essential role in the country's sanctioned crypto space, with multiple ties to illicit activities.

A pro-Israel hacker group called Gonjeshke Darande, also known as Predatory Sparrow, stole $100 million in cryptocurrencies like Bitcoin and Ethereum from Iran’s biggest crypto exchange, Nobitex

Gonjeshke Darande's tweet refers to allegations about Iran's use of cryptocurrency to evade the sanctions, echoing concerns Senators Elizabeth Warren and Angus King raised to former U.S. President Joe Biden in 2024.