Iranian crypto exchange Nobitex, founded by family with close ties to top leadership, remains active during wartime

Odaily Odaily Planet Daily reports that Nobitex, Iran's largest cryptocurrency exchange, was founded by members of the Kharrazi family, which has close ties to Iran's top leadership. An investigation revealed that the exchange was established by brothers Ali and Mohammad Kharrazi, who previously used the surname "Aghamir" to conceal their connection to the Kharrazi family. This family has long-standing, deep relationships with the core of Iran's political establishment, including historical links with Ali Khamenei and his successor.

The report states that Nobitex currently serves over 11 million users, dominating the Iranian crypto market. It has continued to operate during conflicts between Iran, the US, and Israel, even processing transactions during nationwide internet blackouts. Analysts say its trading volume exceeded $100 million during wartime, with significant fund outflows to overseas destinations.

Furthermore, multiple on-chain analytics firms have pointed out that the platform has processed transactions linked to sanctioned entities, with estimated volumes ranging from $22 million to $366 million. Other data shows that a wallet linked to the Central Bank of Iran transferred hundreds of millions of dollars in crypto assets to Nobitex in 2025, believed to be a method for circumventing financial sanctions. Nobitex, for its part, denies any connection to the government and claims that illegal transactions constitute only a small fraction of its overall business. (Cointelegraph)