Wallex
Iranian cryptocurrency exchange that handled approximately 12% of the country's digital-asset inflows in 2025, designated by OFAC under EO 13902 on 2 June 2026.
Last refreshed: 3 June 2026 · Appears in 1 active topic
How does Wallex's 12% market share fit into OFAC's strategy to collapse Iran's crypto infrastructure?
Timeline for Wallex
Designated under EO 13902
Iran Conflict 2026: Treasury freezes Iran's four crypto exchanges- What is Wallex and why was it sanctioned by the US?
- Wallex is Iran's second-largest Cryptocurrency exchange, handling approximately 12% of the country's 2025 digital-asset inflows. OFAC designated it on 2 June 2026 under Executive Order 13902 as part of the Economic Fury campaign against Iran's sanctions-evasion infrastructure.Source: OFAC
- Which Iranian crypto exchanges were sanctioned by the US on 2 June 2026?
- The US sanctioned Nobitex, Wallex, Bitpin and Ramzinex simultaneously on 2 June 2026. Together the four exchanges handled the majority of Iran's 2025 digital-asset inflows, and Treasury said close to $500 million in regime-linked crypto had been frozen by that date.Source: US Treasury
Background
Wallex was designated by OFAC on 2 June 2026 under Executive Order 13902 as part of the US Treasury's Economic Fury campaign. The exchange handled approximately 12% of Iran's 2025 digital-asset inflows, making it the second-largest platform after Nobitex. The four exchanges designated that day collectively processed the majority of Iran's crypto volume, and Treasury said close to $500 million in regime-linked digital assets had been frozen under the campaign by that point.
Wallex operated as a regulated-facing exchange platform, positioning itself as a compliant trading venue within Iran while channelling volume that US authorities allege was used for sanctions evasion. Its designation reflects OFAC's shift toward targeting the full ecosystem of Iranian crypto infrastructure rather than individual wallets or smaller brokers.
The closure of Wallex alongside Nobitex removes significant liquidity from Iran's domestic crypto market. Combined with the prior rial depreciation to a record 1,746,000 per dollar, the simultaneous designation of the top four exchanges creates compounding pressure on Iranians relying on digital assets to preserve savings against inflation.
