PANews reported on May 2nd that, according to Reuters, Ali and Mohammad, the two founders of Nobitex, Iran's largest cryptocurrency exchange, have been revealed to be members of the Kharrazi family, an elite Iranian family. The platform processed tens to hundreds of millions of dollars in cryptocurrency transactions related to the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC) without being subject to US sanctions. Blockchain analytics firm Elliptic indicated that between November 2024 and June 2025, the Central Bank of Iran's wallet traded approximately $500 million in crypto assets through Nobitex, with about $347 million flowing to Nobitex in the first half of 2025. The investigation also revealed that Nobitex had significant financial dealings with overseas exchanges such as Binance and continued to provide services to a small number of "whitelisted" users during Iran's wartime internet blockade.

It was previously reported that Iranian cryptocurrency exchange Nobitex had transferred more than $2.3 billion in funds since 2023 .