What did the Reuters investigation reveal about Nobitex?

Reuters reported that Nobitex, Iran’s largest crypto exchange, was founded by Ali and Mohammad Kharrazi, who are linked to a powerful political family. The family has longstanding ties to Iran’s leadership, including Supreme Leader Ali Khamenei.

Why is Nobitex important in Iran’s crypto market?

Nobitex serves over 11 million users and dominates Iran’s crypto activity. It has remained operational even during war and internet blackouts, showing its central role in the country’s financial ecosystem.

Why are the founders’ political connections significant?

The Kharrazi family’s ties to Iran’s leadership raise questions about potential state influence or access. This could impact how regulators and global markets view Nobitex’s operations.

Has Nobitex been linked to sanctioned transactions?

Yes, investigators say Nobitex has processed transactions linked to sanctioned entities. However, estimates vary widely, reflecting the difficulty of accurately tracking illicit crypto flows.

How much suspicious activity has been reported on Nobitex?

Elliptic estimates about $366 million in suspicious flows, while Chainalysis estimates closer to $68 million. The large gap highlights uncertainty in blockchain analytics.

How is Iran reportedly using crypto through Nobitex?

Reports suggest wallets linked to Iran’s central bank have sent hundreds of millions of dollars in crypto to Nobitex. This may be part of efforts to bypass international financial sanctions.

What is Nobitex’s response to these allegations?

Nobitex denies any government affiliation and says illicit transactions make up only a small portion of its activity. This is a common stance among exchanges facing compliance scrutiny.

How does this tie into broader US enforcement actions?

The US has intensified its crackdown on Iran-linked crypto activity, seizing nearly $500 million in assets. Nobitex’s role could attract further scrutiny from regulators and enforcement agencies.

Reuters links Nobitex founders to Iran elite

Written by Liezl GambePublished May. 4 2026Last Updated May. 7 2026

Iran’s largest crypto exchange Nobitex was founded by two brothers tied to one of the country’s most influential political families, according to a Reuters investigation.

The report found that Ali and Mohammad Kharrazi, who used the alternative surname “Aghamir,” are linked to a family with longstanding connections to Iran’s leadership, including Ali Khamenei.

Nobitex, which serves over 11 million users, has grown to dominate Iran’s crypto market and remained operational even during wartime disruptions and internet blackouts.

Investigators said the platform has processed transactions linked to sanctioned entities, though estimates vary widely between analytics firms.

Elliptic estimated around $366 million in suspicious flows, while Chainalysis placed the figure closer to $68 million, highlighting uncertainty in tracking illicit activity.

Reports also indicate wallets tied to Iran’s central bank sent hundreds of millions of dollars in crypto to Nobitex as part of efforts to bypass financial restrictions.

Nobitex has denied government affiliation, stating that illicit transactions represent only a small portion of its overall activity.

The findings come as the United States intensifies enforcement actions, seizing nearly $500 million in crypto assets linked to Iran under its economic pressure campaign.