PANews reported on May 3 that, according to Cointelegraph, Reuters released an in-depth investigation revealing the core background and operating model of Nobitex, Iran's largest cryptocurrency exchange: the platform was founded in 2018 by two brothers, Ali and Mohammad Kharrazi, from Iran's powerful Kharrazi family. The two brothers have long operated under the pseudonym "Aghamir," deliberately downplaying their connection with the core of power.
The Kharrazi family is deeply intertwined with Iran’s Supreme Leader system: the family has close ties to both Ali Khamenei and his son Mojtaba Khamenei; the brothers’ grandfather was a member of the Council of Experts responsible for appointing the Supreme Leader and was Mojtaba’s mentor; their father was involved in the creation of the Iranian political organization Hezbollah and assisted in the formation of the Islamic Revolutionary Guard Corps.
Nobitex currently boasts over 11 million users and continued operating even during Iran's nationwide internet shutdown and the subsequent war. Analysis estimates suggest the platform processed over $100 million in cryptocurrency transactions during the conflict, with a significant portion of funds flowing overseas. On-chain data shows varying estimates of the scale of sanctions-related transactions: Elliptic estimates approximately $366 million, while Chainalysis estimates around $68 million. Furthermore, in 2025, wallets affiliated with the Central Bank of Iran transferred hundreds of millions of dollars in cryptocurrency assets to Nobitex, which has been cited as a key route for Iran to circumvent financial sanctions.
