Operation Economic Outcast, dubbed “Economic D-Day,” targeted 𝐁𝐢𝐭𝐁𝐚𝐧𝐤 and its supporting network for enabling Iranian digital-asset sanctions evasion. OFAC alleges the network transferred hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps (IRGC) and processed regime-linked payments.

Entities:
- 𝐁𝐢𝐭𝐁𝐚𝐧𝐤 — Iranian digital-asset exchange controlled by OFAC-designated financier 𝐁𝐚𝐛𝐚𝐤 𝐙𝐚𝐧𝐣𝐚𝐧𝐢. Used between June and July 2026 to transfer hundreds of millions of dollars in Bitcoin to the IRGC and, since June, to process payments received by designated Hormuz Safe Marine Services Authority for the Iranian regime.
- 𝐏𝐢𝐬𝐡𝐭𝐚𝐳 𝐒𝐢𝐦𝐨𝐫𝐠𝐡 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜 𝐓𝐫𝐚𝐝𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 — Iranian developer of BitBank’s digital-asset software and subsidiary of OFAC-designated Dot One Value Creation Group. Built and supported the BitBank brand and platform.

Individuals:
- 𝐇𝐨𝐬𝐬𝐞𝐢𝐧 𝐀𝐥𝐢 𝐙𝐚𝐤𝐞𝐫 𝐇𝐨𝐬𝐬𝐞𝐢𝐧 — Iran-linked Dot One executive and key Zanjani lieutenant. Involved in Iranian oil exports and digital-asset transfers; brokered transactions ultimately benefiting the IRGC.
- 𝐌𝐨𝐡𝐚𝐦𝐦𝐚𝐝 𝐌𝐚𝐡𝐝𝐢 𝐙𝐚𝐤𝐞𝐫 𝐇𝐨𝐬𝐬𝐞𝐢𝐧 — Iran-linked Dot One manager and representative; CEO of Pishtaz Simorgh. Designated for acting on behalf of Pishtaz Simorgh.
- 𝐒𝐞𝐲𝐞𝐝 𝐀𝐝𝐞𝐥 𝐇𝐞𝐢𝐝𝐚𝐫𝐢 — Iran-linked vice chairman of Dot One’s board. Designated for acting on behalf of Dot One.

Network context:
- 𝐁𝐚𝐛𝐚𝐤 𝐙𝐚𝐧𝐣𝐚𝐧𝐢 publicly promoted BitBank and built digital-asset infrastructure serving both commercial functions and covert sanctions-evasion activity.
- OFAC previously targeted Zanjani-linked digital-asset entities and facilitators on January 30 and July 24, 2026.

Legal and compliance impact:
- Designations were imposed under E.O. 13902 for activity involving Iran’s digital-asset sector or for acting on behalf of blocked persons.
- U.S.-linked property and interests in property are blocked and reportable to OFAC; entities owned 50% or more by blocked persons are also blocked.
- OFAC highlighted secondary-sanctions exposure for non-U.S. parties facilitating Iranian money laundering or sanctions evasion.
- Civil penalties may apply on a strict-liability basis; criminal penalties may also apply.
- OFAC directed firms to FAQs 1250 and 1257 regarding sanctions risks associated with Iranian digital-asset exchanges.
- No specific BTC or TRX wallet addresses or wind-down authorization were identified in the release.

Source: https://home.treasury.gov/news/press-releases/sb0632/