Pishtaz Simorgh Electronic Trade Company
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·4dNyWa…xA1iSummary
Pishtaz Simorgh Electronic Trade Company is a Tehran-based software firm established in 2024 and designated by the U.S. Treasury's Office of Foreign Assets Control (OFAC) on September 17, 2026. The company developed the digital asset exchange platform BitBank, operated as a subsidiary of the previously sanctioned Dot One Value Creation Group, and is connected to sanctioned Iranian financier Babak Zanjani's alleged Iran Revolutionary Guard Corps (IRGC) sanctions-evasion network. All U.S.-held property interests are blocked and the entity is subject to secondary sanctions.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(8 events)
1 January 2016
Babak Zanjani sentenced to death in Iran for embezzling funds from the National Iranian Oil Company.
Wikipedia — Babak Zanjani1 January 2024
Zanjani's death sentence commuted; he re-emerges and is appointed CEO of Dot One Value Creation Group.
U.S. Treasury Press Release — Operation Economic Outcast (sb0632)1 January 2024
Pishtaz Simorgh Electronic Trade Company established in Tehran; BitBank platform development begins.
OFAC SDN Designation Record — September 17, 202630 January 2026
OFAC designates Babak Zanjani, Zedcex, and Zedxion — the first U.S. sanctions action against an IRGC-linked digital asset exchange.
OFAC Sanctions Zedcex and Zedxion — TRM Labs1 June 2026
According to OFAC, Zanjani begins using BitBank to transfer Bitcoin to the IRGC; Hormuz Safe Marine Services Authority also begins using BitBank to route payments to the Iranian regime.
U.S. Treasury Press Release — Operation Economic Outcast (sb0632)24 July 2026
OFAC designates Dot One Value Creation Group and eight associated Dot One entities, along with four individuals, in a second major action against the Zanjani network.
Treasury Further Dismantles Iranian Financier Zanjani's Network — U.S. Treasury24 August 2026
Operation Economic Outcast formally launched by Treasury, described as a whole-of-government campaign to sever Iran's remaining economic lifelines.
Treasury Launches Unprecedented Campaign Against Iranian Regime on Economic D-Day — U.S. Treasury17 September 2026
OFAC designates Pishtaz Simorgh Electronic Trade Company, BitBank, and three individuals (Mohammad Mahdi Zaker Hossein, Hossein Ali Zaker Hossein, Seyed Adel Heidari) under Executive Order 13902. Treasury simultaneously issues a sectoral determination covering Iran's digital asset sector.
OFAC Iran-related Designations — September 17, 2026Decision Log
- hash: BDVKnWai9tgC2WRh9UCPNpRxXscdgB25ezZF4iaX6oHP
This investigation is cryptographically anchored to the Solana blockchain (1 event). 14 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/20/2026, 11:03:52 PM
last updated: 9/21/2026, 3:03:27 AM
avoid.net — verified advice for a post-truth world