Reuters links Nobitex founders to Iran elite

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.