Nobitex, the largest cryptocurrency exchange in Iran, has emerged as a key player in the country's crypto landscape, serving over 11 million customers. Founded by brothers Ali and Mohammad Kharrazi, the exchange has been linked to the influential Kharrazi family, which has longstanding ties to the Islamic Republic's leadership.
Launched under the alternate surname "Aghamir" to obscure their lineage, the Kharrazi brothers have connections to significant political figures, including Ali Khamenei and Mojtaba Khamenei. Their grandfather was part of the Assembly of Experts, while their father, Ayatollah Bagher Kharrazi, played a role in establishing Hezbollah and the Islamic Revolutionary Guard Corps following the 1979 revolution.
Despite ongoing conflicts involving the United States and Israel, Nobitex has maintained operations, even during national internet blackouts. The exchange reportedly processed over $100 million in transactions during wartime, with substantial funds moving outside the country. However, varying estimates suggest that the platform has handled transactions linked to sanctioned entities, with analytics firms reporting suspect flows ranging from $22 million to $366 million.