Reuters Probe Links Iran’s Top Crypto Exchange Nobitex To Powerful Political Family

A Reuters investigation has uncovered major political ties behind Iran’s biggest cryptocurrency exchange, Nobitex.

The report says that brothers Ali and Mohammad Kharrazi, who come from a well-known family with deep connections to Iran’s leaders, started the platform. They are said to have used the surname “Aghamir” in business to hide their link to the Kharrazi family. They are said to have links with Supreme Leader Ali Khamenei and his son Mojtaba Khamenei.

Nobitex has grown quickly and now serves more than 11 million users, leading the crypto market in Iran. Even during wartime and internet blackouts, the exchange kept running and processed over $100 million in transactions. Investigations indicate that the platform has processed transactions associated with sanctioned entities, although estimates vary considerably. Some reports suggest that hundreds of millions of dollars may have moved through questionable channels.

There are also claims that Iran’s central bank has used cryptocurrency, including Nobitex, to get around financial sanctions. Nobitex says it has no government ties and that illegal transactions make up only a small part of its business.

These findings come as the United States steps up efforts to block Iran-related cryptocurrency flows, showing how digital assets and geopolitics are becoming more connected.

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