Iran’s Nobitex Processed at Least $2.3 Billion on Tron and BNB Chain

Iran’s largest cryptocurrency exchange, Nobitex, processed at least $2.3 billion of transactions through Tron and BNB Chain over the past several years.

Reuters, citing data from on-chain analytics firm Arkham, reported on May 18 that Nobitex handled about $2 billion on the Tron network and at least $317 million on BNB Chain since 2023.

The exchange continued moving funds across the two networks even after military clashes involving Iran, the US and Israel, Reuters reported. Since February, about $22.6 million in crypto assets moved through Nobitex on BNB Chain and roughly $550,000 on Tron.

Reuters had previously reported that Nobitex was one of the main exchanges used for sanctions-evasion transactions inside Iran. That report also cited cases involving the Central Bank of Iran and users tied to the Islamic Revolutionary Guard Corps, or IRGC.

From 2018 to 2022, about $7.8 billion in cryptocurrency moved between Nobitex and Binance, much of it in Tron-based assets, according to Reuters.

Reuters also said Tron founder Justin Sun and Binance are linked to World Liberty Financial, or WLFI, the crypto venture co-founded by the family of US President Donald Trump. It added that there was no indication the Trump family was involved in Nobitex’s use of the networks.

World Liberty Financial said it has no relationship with Nobitex and complies with US law. Tron said it cannot directly control every user transaction and is cooperating in efforts to block funds subject to sanctions.