Crypto Exchanges to Avoid if You Are Iranian in 2025

Ben Bevan 31 December 2025 22 Comments

If you're an Iranian crypto user, choosing the wrong exchange could mean losing your money overnight-not because of market crashes, but because of sanctions, hacks, or government crackdowns. By late 2025, the landscape has shifted dramatically. What was once a relatively open space for trading Bitcoin and Ethereum is now a minefield of frozen accounts, blocked withdrawals, and legal traps. You don’t need to be a tech expert to stay safe-you just need to know which platforms to avoid.

Exchanges That Freeze Iranian Funds

Any exchange that relies on USDT (Tether) is a major risk. On July 2, 2025, Tether froze 42 cryptocurrency addresses tied to Iranian users. Half of those addresses were linked to Nobitex, Iran’s biggest exchange. That wasn’t a random error. It was a targeted move by Tether to comply with U.S. sanctions. If you hold USDT on any platform-whether it’s Binance, Kraken, or a local Iranian exchange-you’re exposed. Those funds can vanish without warning, with no appeal process.

Major global exchanges like Coinbase, Binance, and Kraken have automated systems that scan for Iranian IP addresses, phone numbers, or bank details. Even if you’re using a VPN, your transaction history can trigger a freeze. Once flagged, your account may be locked indefinitely. Some users report being banned after just one trade. There’s no customer service channel that helps. You’re cut off.

Nobitex: The Domestic Giant With Dangerous Ties

Nobitex isn’t just another exchange. It’s Iran’s most popular platform, with over 11 million users. But popularity doesn’t mean safety. In June 2025, Nobitex suffered a $90 million hack. The attackers didn’t just steal coins-they exploited weak internal controls and insider access. What’s worse, blockchain analysts at Elliptic found that Nobitex’s wallet network shares patterns with addresses tied to the Islamic Revolutionary Guard Corps (IRGC). That doesn’t mean Nobitex is run by the IRGC-but it does mean the platform is being watched by international sanctions enforcers.

Iranian users who trade on Nobitex are now caught between two dangers: the risk of being hacked, and the risk of being flagged by foreign governments. If you’re using Nobitex, your transactions could be flagged as part of a sanctions evasion network-even if you’re just buying Bitcoin to protect your savings. The platform itself is under pressure from both sides: the Iranian government wants control, and the U.S. wants to block it.

Stablecoin Platforms Are Now High-Risk

Before September 2025, stablecoins like USDT and USDC were the go-to for Iranians wanting to protect their money from inflation. Now, they’re a legal trap. Iran’s Central Bank imposed strict limits: you can’t buy more than $5,000 in stablecoins per year, and you can’t hold more than $10,000 at any time. If you exceed these limits, you have 30 days to reduce your holdings-or face penalties.

Exchanges that push stablecoin trading-like local platforms that advertise “zero volatility” or “Iranian rial backed” tokens-are now under government scrutiny. Some have already been shut down. Others are being forced to report every user’s wallet address to tax authorities. That means if you’re holding DAI or USDT on an unlicensed exchange, you’re not just risking a hack-you’re risking being identified by the state.

Split design showing secure MetaMask wallet versus chaotic Nobitex exchange with hack alerts.

Exchanges Promoted by Government Media

If you see an exchange advertised on Tasnim News Agency, Press TV, or any other outlet linked to the IRGC, walk away. These aren’t neutral financial services-they’re political tools. Tasnim has openly warned that “thousands of Iranian crypto accounts” have been frozen by Tether. That’s not a public service announcement. It’s a scare tactic to push users toward platforms the government controls.

Exchanges promoted this way often lack basic security. They may not have two-factor authentication. They may not have cold storage. They may not even have a real customer support team. Their only goal is to collect your data and funnel your money into systems the government can monitor. If you use one of these platforms, you’re not just risking your coins-you’re risking your personal information.

Unregulated and Informal Platforms Are a Trap

As licensed exchanges face tighter rules, more Iranians are turning to Telegram groups, WhatsApp traders, and peer-to-peer (P2P) platforms. These aren’t exchanges-they’re informal deals. Someone posts “I’ll sell you 1 BTC for 100 million toman,” you send the money, and they send the crypto. Sounds simple, right?

It’s not. These platforms have no dispute system. No chargebacks. No insurance. If the person disappears, you have no recourse. In 2025, over 70% of reported crypto fraud cases in Iran came from P2P trades. The Iranian FinTech Association says these platforms are growing because licensed exchanges are too restrictive. But that doesn’t make them safer-it makes them more dangerous.

Minimalist crypto keychain device beside banned media clippings, drawn in technical ink sketch.

Exchanges That Don’t Comply With Iran’s New Tax Law

In August 2025, Iran passed its first cryptocurrency capital gains tax. If you make a profit from trading, you owe taxes. The government expects exchanges to report your trades. If your exchange doesn’t provide tax reports-or worse, if it hides your transaction history-you’re on your own when tax season comes.

Some local exchanges still don’t generate tax statements. Others claim they’re “not required” to report. That’s not a feature-it’s a red flag. If you’re using one of these platforms, you’re exposing yourself to fines, audits, or even criminal charges. The tax authority now has access to blockchain data. They know who’s trading. They just need to match your identity to your wallet.

Exchanges That Support Mining or Energy-Heavy Activity

Iran accounts for 4.5% of global Bitcoin mining. That’s a lot of electricity. In 2025, the government started cutting power to mining farms to save energy for homes. Exchanges that also run mining pools or promote mining as a way to earn crypto are now under pressure. If you’re using a platform that offers mining rewards or cloud mining contracts, you’re at risk of sudden service shutdowns.

Some platforms have already stopped mining payouts. Others have started requiring users to prove they’re not using state-subsidized electricity. If you’re mining on one of these platforms, you could lose your rewards overnight. And if you’re trading on an exchange that’s tied to mining activity, you could be flagged for energy violations.

What Should You Do Instead?

You don’t have to give up crypto. But you need to be smarter. Avoid exchanges that:

Use USDT or any U.S.-backed stablecoin
Are promoted by state media or IRGC-linked outlets
Don’t provide tax reports or transaction history
Require no KYC (they’re likely unregulated)
Are based in Iran but have no official license
Offer mining rewards or cloud mining

Instead, focus on decentralized tools like self-custody wallets (Trust Wallet, MetaMask), and use non-U.S. stablecoins like DAI on the Polygon network. Store your coins offline. Don’t keep large amounts on any exchange. And never trust an exchange just because it’s popular in Iran.

The rules change fast. What’s safe today might be blocked tomorrow. Stay updated. Follow independent crypto news sources-not government channels. And remember: your money is only as safe as the platform you trust it to.

Can I still use Binance if I’m Iranian?

No. Binance actively blocks Iranian users. Even if you use a VPN, your transaction history, device fingerprint, or payment method can trigger a freeze. Many Iranian users have reported permanent account bans after using Binance. The risk of losing your funds is too high.

Is Nobitex safe to use?

No. Nobitex was hacked for over $90 million in 2025 and is linked to IRGC-aligned wallets. While it’s the largest exchange in Iran, it’s also under international sanctions and government pressure. Using it puts your assets at risk of both theft and seizure.

What happens if I hold more than $10,000 in stablecoins?

Iran’s Central Bank requires you to reduce your holdings to under $10,000 within 30 days. Failure to comply could lead to fines, account freezes, or legal action. The government is actively tracking stablecoin wallets through licensed exchanges and blockchain analysis tools.

Are peer-to-peer crypto trades safe in Iran?

No. Over 70% of crypto fraud cases in Iran in 2025 came from P2P trades on Telegram or WhatsApp. There’s no recourse if the seller disappears. No chargebacks. No protection. These are informal deals, not regulated services.

Can I use a VPN to access banned exchanges?

Using a VPN won’t protect you. Exchanges use multiple methods to detect Iranian users-payment methods, IP addresses, device IDs, and even behavioral patterns. Even if you bypass the block, your funds can still be frozen later. It’s not worth the risk.

What’s the safest way to hold crypto as an Iranian user?

Use a self-custody wallet like MetaMask or Trust Wallet. Store your private keys offline. Avoid exchanges entirely. Use DAI on the Polygon network instead of USDT. Keep small amounts only for trading, and never leave large sums on any platform.