According to a Reuters investigation published Friday, Nobitex, Iran’s dominant crypto exchange with roughly 11 million users, was founded by brothers Ali and Mohammad Kharrazi, whose family is related by marriage to all three of Iran’s supreme leaders. The brothers registered the company in 2018 under an alternate surname while other relatives publicly use the Kharrazi name.
Nobitex handles approximately 70% of Iran’s crypto activity. A separate Elliptic analysis cited by Reuters found that wallets controlled by the Central Bank of Iran sent about $347 million to Nobitex in the first half of 2025 as part of a larger central bank crypto buying program.
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