BroadChain learned that at 02:00 on April 24, according to Reuters, Iran's largest cryptocurrency exchange, Nobitex, has processed at least $2.3 billion in funds since 2023 via Tron and BNB Smart Chain. Some of these funds originated from the US-sanctioned Central Bank of Iran (CBI) and are linked to sanctioned entities such as the Islamic Revolutionary Guard Corps (IRGC), Hamas, and Hezbollah.
Data from blockchain analytics firms Arkham and Elliptic shows that transaction volumes on the Tron chain alone exceeded $2 billion, with approximately $317 million on BNB Smart Chain, and tens of millions of dollars still in circulation after the conflict erupted.
Tron was founded by Justin Sun, and BNB Smart Chain was launched by Binance. Both have financial and governance overlaps with the Trump-led cryptocurrency project World Liberty Financial. Since its establishment in 2018, Nobitex has facilitated at least $366 million in sanctioned transactions.