Iranian Crypto Exchange Nobitex Founded by Family with Close Ties to High-Level Leadership, Remains Active During Wartime

Odaily Odaily News Iran's largest cryptocurrency exchange, Nobitex, was founded by members of the Kharrazi family, who have close ties to the country's highest leadership. Investigations reveal 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—a family with longstanding, deep ties to Iran's political core, including historical links to Ali Khamenei and his successor.

Reports indicate that Nobitex currently serves over 11 million users, dominating the Iranian crypto market and continuing operations even during conflicts between Iran and the US and Israel, handling transactions despite nationwide internet outages. Analysts estimate that its trading volume exceeded $100 million during wartime, with significant capital flowing overseas.

Furthermore, multiple on-chain analytics firms point out that the platform has processed transactions related to sanctioned entities, with estimated amounts ranging from $22 million to $366 million. Other data shows that wallets 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 denies any connection to the government, claiming that illegal transactions constitute only a small fraction of its overall business. (Cointelegraph)