Nobitex Founder Ties Uncovered: Elite Kharrazi Brothers Behind Crypto Exchange

Nobitex, Iran's largest cryptocurrency exchange, was reportedly founded by two brothers from the country's elite Kharrazi family. According to a Reuters report, the exchange handled 'between tens and hundreds of millions of dollars' in transactions linked to Iran's central bank and the Islamic Revolutionary Guard Corps (IRGC).

The report noted that Nobitex has grown into a central part of Iran's financial system, acting as a workaround to Western sanctions. Corporate and registry records reviewed by Reuters linked Nobitex's founders to the Kharrazi family, one of Iran's most influential political dynasties with ties to the country's leadership and clerical establishment.

Nobitex reportedly denied government ties in statements to Reuters, saying it is 'a private and independent business' and that any illicit activity on the platform occurred without its knowledge or approval. Despite this, investigators cited by Reuters said sanctioned funds continued to flow through the exchange.