Reuters: Founder of Iran's Largest Crypto Exchange Nobitex Linked to Supreme Leader's Family

On May 3, a Reuters investigation revealed that Nobitex, Iran’s largest cryptocurrency exchange, was founded by brothers Ali and Mohammad Kharrazi. The two reportedly used the alias “Aghamir” to register the company and conduct business activities, in order to downplay their ties to the influential Kharrazi family, which is closely associated with Iran’s Supreme Leader system. The Kharrazi family has longstanding connections with Ali Khamenei and his potential successor, Mojtaba Khamenei. Their grandfather was a member of the Assembly of Experts responsible for appointing the Supreme Leader and served as a mentor to Mojtaba; their father was involved in founding the Iranian political organization Hezbollah and assisted in forming the Islamic Revolutionary Guard Corps. According to Reuters, Nobitex currently has over 11 million users and has continued to operate even during nationwide internet blackouts and wartime. Analysts estimate that the platform processed over $100 million in cryptocurrency transactions during the conflict, with a significant amount of funds flowing overseas. Blockchain analysis firms have noted that Nobitex has handled some transactions related to sanctioned entities, but estimates vary widely among different organizations: Elliptic estimates the suspicious funds at about $366 million, while Chainalysis estimates around $68 million. Additionally, the report stated that wallet addresses associated with the Iranian central bank transferred hundreds of millions of dollars in cryptocurrency assets to Nobitex in 2025, believed to be part of Iran’s strategy to evade financial sanctions.