Updated: 2026-05-02
According to investigation Reuters reports that Iran’s leading cryptocurrency exchange, Nobitex, was founded by two brothers from the Kharrazi family, which is linked to all three of the Islamic Republic’s supreme leaders.
According to Reuters, brothers Ali and Mohammad Kharrazi registered the company in 2018 under the surname Agamir Mohammad Ali, which they used in corporate documents, at university, and in Nobitex’s marketing brochure. Other relatives use the surname Kharrazi.
According to journalists, their grandfather served on the Council of Experts, which selects Iran’s supreme leader, and was once a mentor to Mojtaba Khamenei, who succeeded his father, Ali Khamenei, as supreme leader following the US and Israeli airstrikes on February 28. Their father, Ayatollah Bagher Kharrazi, founded the Iranian political organization Hezbollah, and, according to According to Reuters, helped staff the Islamic Revolutionary Guard Corps (IRGC) after the 1979 revolution.
The email address used to register the Nobitex domain in 2017 contained Kharrazi’s name and was also used for a religious charity headed by the brothers’ father.
A screenshot from the Nobitex website showing Seyed Mohammad Ali Agamir Mohammad Ali, the eldest brother of the Kharrazi family.
Nobitex denied any connection to the government, saying the brothers had not changed their identities and describing any illicit funds moving through the platform as a “very small fraction of the total volume.”
According to Reuters, the exchange has approximately 11 million users and handles approximately 70% of Iran’s cryptocurrency activity. Nobitex has played a significant role in the sanctioned country’s cryptocurrency ecosystem, processing $11 billion in transactions since its inception.data Chainalysis).
With reference Crystal Intelligence and other blockchain analytics firms told Reuters that Nobitex continued to process transactions throughout the ongoing US-Israeli war in Iran, even during the nationwide internet shutdown imposed on February 28.
During the war, Nobitex is believed to have processed over $100 million in transactions, representing approximately 20% of its normal volume. Since the conflict began, $54 million has been withdrawn from the exchange, most of which was transferred abroad to brokers converting cryptocurrency into cash.
Interestingly, on April 28, the US Treasury Department announced new sanctions targeting Iran’s so-called shadow banking infrastructure, but Nobitex was not included among the blacklisted entities.
Risk Warning:
The information on this website is for informational and educational purposes only and does not constitute investment advice or financial recommendations. Cryptocurrencies and digital assets carry a high level of risk, including possible loss of capital. The editors are not responsible for decisions made based on the published materials. It is recommended that you conduct your own research (DYOR) before making investment decisions. Read the editorial policy. https://happycoin.club/about/