Reuters: Iran’s Nobitex evades sanctions worth over $2.3 billion, with Tron and BNB Chain as the main channels

Reuters, citing data from on-chain analytics firm Arkham on May 19, reported that since 2023, Iran’s largest cryptocurrency exchange Nobitex has processed about $2 billion via the Tron network and at least $317 million via BNB Chain, for a total of more than $2.3 billion. Both Tron and Binance founders are key supporters of WLFI, a Trump family business.

Confirmed On-Chain Transaction Data (Based on Arkham Data)

Overall scale (since 2023):

Tron network: about $2 billion

BNB Chain: at least $317 million

Total: at least $2.3 billion

Post-war data (since February 2026):

BNB Chain: about $22.6 million

Tron: about $550k

Historical data (2018-2022): Reuters previously reported that there has been about $7.8 billion in crypto asset flow between Nobitex and Binance, with most based on Tron. Analysts said that because Nobitex frequently changes wallet addresses to evade regulation, the actual total could be far higher than the figures above.

Official Statements Confirmed by Different Parties

World Liberty Financial (WLFI): Has no relationship with Nobitex and complies with U.S. law.

Binance and BNB Chain: BNB Chain is a decentralized public blockchain; Binance does not operate or control the network.

Tron (TRON): Cannot directly monitor every user transaction and is working with relevant authorities to block sanctioned funds from entering.

White House spokesperson: Denies any conflict of interest involving Trump’s business operations.

Sanctions Background: Confirmed Links Between Nobitex and Iranian Sanctioned Entities

Reuters previously reported and confirmed that Nobitex has been widely used to evade Iran’s sanctions, involving sanctioned entities including the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC), both of which are under Western sanctions. Reuters noted in its report that the connections between Justin Sun and Changpeng Zhao and WLFI, as well as the continued service of the above blockchain networks for Nobitex transfers, create a structural contradiction: while the U.S. government imposes sanctions on Iranian entities, blockchain networks associated with business allies of Trump still provide convenience for the flow of crypto assets related to Iran’s financial system.

FAQ

Why does Nobitex use Tron heavily instead of other blockchains?

Tron transaction fees are extremely low, confirmations are fast, and a large amount of USDT is issued on Tron, making it a common channel for sanctioned-avoidance transactions. Arkham data shows that out of Nobitex’s $2.3 billion total volume, $2 billion (about 87%) was completed via Tron, far higher than BNB Chain’s share.

Does the Trump family therefore directly involve the issue of evading Iranian sanctions?

Reuters stated clearly that there is no evidence showing that the Trump family knew that Nobitex was using Tron or BNB Chain, and WLFI also said it has no relationship with Nobitex. This report reveals a structural relationship in which business allies of Trump (Justin Sun and Changpeng Zhao), as supporters within WLFI, are linked to the fact that the blockchain(s) they created/supported are used by Iranian sanctions-evading entities—not direct personal knowledge or involvement.

How do the Central Bank of Iran and the IRGC use cryptocurrency through Nobitex?

According to Reuters’ prior report, Nobitex has been involved in processing transactions related to users associated with the Central Bank of Iran and the IRGC. Since both entities are sanctioned by the West, allowing them to access transactions connected to the international financial system could trigger sanctions violations.