Iran crypto exchange Nobitex's founding family has close ties to senior leadership, transactions remain active during wartime

Odaily Planet Daily News Iran's largest cryptocurrency exchange, Nobitex, was founded by members of the Kharrazi family, who have close ties to Iran's top leadership. Investigations show that the exchange was created by brothers Ali and Mohammad Kharrazi, who previously used the surname "Aghamir" to conceal their connection to the Kharrazi family, a family long associated with Iran's political core, including historical links to Ali Khamenei and his successor.

Reports indicate that Nobitex currently serves over 11 million users, dominates the Iranian crypto market, and continues to operate during conflicts between Iran and the US and Israel, processing transactions even during nationwide internet outages. Analysts state that its transaction volume exceeded $100 million during wartime, with significant funds flowing overseas.

Additionally, multiple on-chain analytics firms point 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 wallets connected to the Central Bank of Iran transferred hundreds of millions of dollars in crypto assets to Nobitex in 2025, believed to be a means of circumventing financial sanctions. Nobitex, however, denies any association with the government and claims that illegal transactions represent only a small fraction of its overall business. (Cointelegraph)