Reuters has identified the founders of Nobitex, Iran's largest cryptocurrency exchange, as Ali and Mohammad Kharrazi, members of one of the Islamic Republic's most influential families. Using the alternative surname Aghamir, the brothers built Nobitex into a dominant platform handling an estimated seventy percent of Iran's cryptocurrency transactions and serving more than eleven million users. Their family has deep ties to Iran's clerical and political leadership, including close connections to the current supreme leader.

Blockchain analysis firms and former employees told Reuters that Nobitex has processed tens to hundreds of millions of dollars in transactions linked to sanctioned Iranian entities, including the central bank and the Islamic Revolutionary Guard Corps. Analysts said the exchange acts as a bridge to global digital asset markets, helping move funds beyond the reach of Western sanctions. Nobitex denied any government affiliation or intentional facilitation of illicit transfers, saying any such transactions occurred without management knowledge.

Despite sweeping sanctions on Iran, Nobitex itself has not been designated by Western governments. The platform continued operating even during a nationwide internet blackout imposed amid war and domestic unrest, when access was limited to a small, state-approved segment of the population. Investigators say large sums continued to flow through the exchange during that period, underscoring its central role in Iran's parallel financial system as well as its importance to ordinary citizens seeking refuge from inflation and banking isolation.