Iran’s central bank allegedly used Nobitex to move hundreds of millions of dollars into crypto markets.
The Islamic Revolutionary Guard Corps interacted with Nobitex through wallet activity tied to sanctioned organizations.
Investigators from Elliptic and Chainalysis identified patterns of wallet activity linked to restricted actors using the exchange.
Iran’s largest crypto exchange, Nobitex, has been used to route funds connected to sanctioned state entities, according to an investigation that traces transactions involving the country’s central bank and the Islamic Revolutionary Guard Corps.
According to a Reuters report dated May 1, the platform acted as a key conduit in a parallel financial system that allows money to move…
