According to a Reuters investigation published on May 1, Nobitex, Iran’s dominant crypto exchange with roughly 11 million users, was founded by brothers Ali and Mohammad Kharrazi, members of an elite political family tied by marriage to all three of Iran’s supreme leaders.
The Kharrazi family has deep ties to Iran’s political establishment: their grandfather served on the Assembly of Experts, which selects Iran’s supreme leader, and their father, Ayatollah Bagher Kharrazi, founded the Iranian political organization Hezbollah and helped staff the Islamic Revolutionary Guard Corps after the 1979 revolution. Reuters traced the connection through corporate, government, and banking records, including domain registration emails containing the Kharrazi name. Nobitex handles approximately 70% of Iran’s crypto activity and has processed over $100 million in transactions since the February 28 U.S.-Israeli airstrikes began, according to blockchain analytics firms cited in the report.
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