US sanctions Iranian crypto exchange BitBank over IRGC transfers
The United States sanctioned Iranian digital-asset exchange BitBank after officials said it transferred hundreds of millions of dollars in Bitcoin to Iran’s Islamic Revolutionary Guard Corps between June and July. The action also targets BitBank’s developer and associates of financier Babak Zanjani.
By DoomRadar · Published on DoomRadar . Updated .
Based on two sources with available article excerpts. Source-linked claims are not independent confirmation.
What happened
The US Treasury sanctioned BitBank, an Iranian digital-asset exchange, after officials said it transferred hundreds of millions of dollars in Bitcoin to the IRGC between June and July. [1][2]
References for this detail (2)
- Cryptohack Roundup: US Sanctions BitBankbankinfosecurity.com · Recorded source date: Sep 24, 2026, 6:17 PM UTC
- Cryptohack Roundup: US Sanctions BitBankgovinfosecurity.com · Recorded source date: Sep 24, 2026, 7:47 PM UTC
US officials said Iranian financier Babak Zanjani controls BitBank; the sanctions also cover its software developer and three of his associates. [1][2]
References for this detail (2)
- Cryptohack Roundup: US Sanctions BitBankbankinfosecurity.com · Recorded source date: Sep 24, 2026, 6:17 PM UTC
- Cryptohack Roundup: US Sanctions BitBankgovinfosecurity.com · Recorded source date: Sep 24, 2026, 7:47 PM UTC
Officials said Hormuz Safe Marine Services Authority used BitBank to transfer payments to the Iranian government. [1][2]
References for this detail (2)
- Cryptohack Roundup: US Sanctions BitBankbankinfosecurity.com · Recorded source date: Sep 24, 2026, 6:17 PM UTC
- Cryptohack Roundup: US Sanctions BitBankgovinfosecurity.com · Recorded source date: Sep 24, 2026, 7:47 PM UTC
The action expands a US campaign against Iranian digital-asset services accused of helping sanctioned groups move money. [1][2]
References for this detail (2)
- Cryptohack Roundup: US Sanctions BitBankbankinfosecurity.com · Recorded source date: Sep 24, 2026, 6:17 PM UTC
- Cryptohack Roundup: US Sanctions BitBankgovinfosecurity.com · Recorded source date: Sep 24, 2026, 7:47 PM UTC
Context from the sources
The same roundup said earlier US actions targeted Iranian exchanges including Nobitex, Wallex, Bitpin, Ramzinex, Shelbit and Aban Tether. [1][2]
Explore the sources and reporting timeline
2 source links · 2 domains
These counts describe the references, not independent confirmations. Different outlets can repeat the same original report.
1 of these links repeat a headline already present, allowing for punctuation and publisher branding. Repeated wording is not additional confirmation.
Source timeline
Oldest to newest among the available source dates, not a chronology of the incident. Article publication dates come from the source; other recorded dates may reflect when a link was found.
- [1] Cryptohack Roundup: US Sanctions BitBankbankinfosecurity.comReferenced for: detail 1, detail 2, detail 3, detail 4
- [2] Cryptohack Roundup: US Sanctions BitBankgovinfosecurity.comReferenced for: detail 1, detail 2, detail 3, detail 4
Questions answered by the reporting
What this could mean for you
Transactions involving BitBank or linked wallets could be rejected or frozen.
Sanctions screening can block financial institutions and service providers from processing dealings with designated entities.
Reported basis: [1][2] · The possible effect is interpretation.
Depends on: Providers identify a BitBank-related entity, wallet or counterparty in a transaction.
Iranian digital-asset services may face tighter scrutiny and reduced access to international financial channels.
The action extends a campaign targeting exchanges accused of moving funds for sanctioned groups.
Reported basis: [1][2] · The possible effect is interpretation.
Depends on: US or partner authorities continue adding related exchanges, intermediaries or service providers to sanctions lists.
Possible time frame: months, if those conditions hold.
Possible consequences, not a forecast. Their relevance depends on your location and the conditions above.
For your country
Choose a country to check how this event could affect you.
What changes the outlook
Risk increases if…
Additional Iranian exchanges or payment intermediaries are designated.
More financial or maritime-service providers cut ties with BitBank-linked entities.
Pressure eases if…
A legal or regulatory decision removes BitBank or connected entities from the sanctions regime.
Affected providers establish verified alternative payment channels that do not involve designated parties.
Still unclear
The excerpts do not specify the exact legal restrictions, enforcement timetable or effect on BitBank customers.
The excerpts do not establish whether the alleged transfers are disputed or whether any assets were seized.
Market implications
Market impact
Sources (2)
References for the reported details. Separate links do not necessarily mean independent confirmation.
Available excerpt
Every week, ISMG rounds up cybersecurity incidents in digital assets. This week, the United States sanctioned Iranian exchange BitBank, South Korea booked 26 Polymarket users…A short excerpt from our source record; open the original for the full article.
Available excerpt
Every week, ISMG rounds up cybersecurity incidents in digital assets. This week, the United States sanctioned Iranian exchange BitBank, South Korea booked 26 Polymarket users…A short excerpt from our source record; open the original for the full article.
AI-assisted analysis · . Based on linked headlines and available excerpts. Methodology · Report an error.