Nobitex moved $2.3B for sanctioned Iranian entities since 2023, Reuters reports

Iran's largest cryptocurrency exchange, Nobitex, has moved at least $2.3 billion since 2023, Reuters reported. The funds are believed to have been used to launder money for sanctioned organizations, including the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC). Nobitex is reportedly managed by the children of influential Iranian families. Reuters added that Iran has primarily utilized the Tron (TRX) and BNB Smart Chain (BSC) networks to evade Western sanctions, continuing these illicit financial flows amid what the report described as lax surveillance under the Trump administration's pro-crypto policy stance.