The founding family and executives of Iran's cryptocurrency exchange Nobitex have close ties, and trading remains active during the war.

Odaily Planet Daily News: Iran’s largest cryptocurrency exchange, Nobitex, was founded by members of the Kharrazi family, who have close ties to Iran’s highest leadership. Investigations show that the exchange was created by brothers Ali and Mohammad Kharrazi. The two previously used the surname “Aghamir” to obscure their connection to the Kharrazi family, which has long maintained close ties with the Iranian political core, including historical links to Ali Khamenei and his successors.

The report states that Nobitex currently serves more than 11 million users, holds a dominant position in Iran’s crypto market, and continues operating during the conflict between Iran and the United States, as well as Israel, processing transactions even amid nationwide internet outages. Analysts say that during wartime, its trading volume exceeded $100 million and large amounts of funds flowed overseas.

In addition, multiple on-chain analysis firms have noted that the platform has handled transactions related to sanctioned entities, with estimated sizes ranging from $22 million to $366 million. Other data shows that wallets associated with the Central Bank of Iran transferred crypto assets worth hundreds of millions of dollars to Nobitex in 2025, which is believed to be used to evade financial sanctions. Nobitex denies any affiliation with the government and says that illegal transactions account for only a small portion of its overall business. (Cointelegraph)