Supreme Leader-Connected Family Behind Iran's Top Cryptocurrency Platform: Reuters Report
According to Reuters, brothers from the influential Kharrazi family, which maintains close connections to Iran's supreme leaders, established Nobitex, the nation's premier cryptocurrency trading platform.
A Reuters investigation has revealed that Nobitex, the Islamic Republic's leading cryptocurrency trading platform, was established by two siblings belonging to one of Iran's most powerful and influential families maintaining direct connections to the supreme leaders.
Ali and Mohammad Kharrazi launched the platform, which currently dominates Iran's digital currency trading landscape. According to the investigation, the brothers conducted business operations using the alternative family name "Aghamir" throughout their corporate documentation and professional careers, effectively concealing their connections to the prominent Kharrazi lineage.
For generations, the Kharrazi family has maintained positions of significant influence adjacent to Iran's highest levels of leadership, with connections extending across multiple generations of authority, including relationships with Ali Khamenei and Mojtaba Khamenei, his designated successor.
According to the report, the brothers' grandfather held a seat on the Assembly of Experts, the governing body charged with selecting Iran's supreme leader, and previously provided private tutoring to Mojtaba Khamenei. The report further indicates that their father, Ayatollah Bagher Kharrazi, established an Iranian political organization bearing the Hezbollah name and played a role in the initial recruitment efforts for the Islamic Revolutionary Guard Corps in the aftermath of the 1979 revolution.
Nobitex remains operational even during war times
The platform, which according to reports maintains a user base exceeding 11 million customers, has continued functioning without interruption throughout the current military conflict involving both the United States and Israel, maintaining operations even when the nation experienced a complete internet shutdown. Reuters cited analysts who confirmed that transaction volumes surpassing $100 million were handled during the wartime period, with substantial portions of these funds transferred to foreign destinations.
Simultaneously, investigators referenced in the Reuters report indicate the exchange has facilitated transactions connected to entities currently under international sanctions. The estimated amounts, however, show considerable variation across different sources. Blockchain analytics company Elliptic determined approximately $366 million in questionable transaction flows, whereas Chainalysis calculated the amount at roughly $68 million, and Crystal Intelligence identified approximately $22 million in direct transfers originating from wallets subject to sanctions.
Additional investigative findings suggest that cryptocurrency wallet addresses linked to Iran's central banking institution transferred cryptocurrency valued at hundreds of millions of dollars to Nobitex during 2025, representing one component of a comprehensive approach to circumvent international financial sanctions. A legal dispute involving Iranian businessman Babak Zanjani additionally revealed wallet addresses that blockchain analysts assert demonstrate at least $20 million in state funds that were channeled through the platform.
According to reports, Nobitex has rejected claims of any governmental connections, asserting that transactions of an illicit nature constitute only a minor fraction of the platform's total trading volume.
US seizes $500 million in Iranian crypto
Cointelegraph previously reported that United States authorities have confiscated approximately $500 million in cryptocurrency with ties to Iran, representing a substantial escalation of financial enforcement actions conducted under the initiative designated as Operation Economic Fury.
The most recent seizure total represents a considerable increase from earlier publicly announced amounts, which included $344 million in frozen digital currency holdings, with the stablecoin issuing company Tether providing assistance in the fund freezing process.