A Reuters investigation published this week found that Iranian crypto exchange Nobitex processed $2.3 billion in transactions on the Tron and BNB Chain networks since 2023. The figure points to how sanctioned entities continue to use blockchains to move money — and the limits of financial enforcement in decentralized systems.
What Reuters traced
The investigation analyzed on-chain data across the two blockchains, mapping flows linked to Nobitex. The $2.3 billion sum covers transactions from early 2023 through the first quarter of 2026. Tron and BNB Chain are both cheap, fast networks popular for remittances and high-volume transfers, which also makes them attractive for parties looking to avoid traditional banking oversight.
The enforcement challenge
The use of blockchain by individuals and entities under sanctions isn't new, but the scale of the Nobitex case illustrates a persistent gap. Regulators have limited visibility into peer-to-peer transfers and no central authority to freeze assets on public chains. Even when exchanges are identified, jurisdiction hopping and privacy tools make it hard to enforce penalties.
Reuters didn't name specific counterparties or confirm whether the funds directly involved sanctioned regimes. What remains unclear is how much of the $2.3 billion flowed to blacklisted parties — and whether Tron or BNB Chain will face pressure from regulators to monitor or restrict addresses tied to the exchange.
