Iran's largest exchange, backed by the Supreme Leader's family?..."Changed surname to evade sanctions"

▲ Iran, virtual assets, cryptocurrency crime/AI-generated image

It has been revealed that Iran's largest cryptocurrency exchange was founded by influential figures from a prominent family connected to the Supreme Leader, raising suspicions that it was used as a channel to evade sanctions.

According to a report by Cointelegraph, a Reuters investigation found that Nobitex, Iran's largest cryptocurrency exchange, was founded by brothers Ali Kharrazi and Mohammad Kharrazi. They were identified as members of the Kharrazi family, a prestigious political and religious family associated with Iran's Supreme Leader.

The report states that the two brothers reportedly used a different surname, 'Aghamir,' at the time of establishment to conceal their connection to the family. The family is known to have maintained close ties with the core of Iranian power for a long time.

Nobitex has now become a key platform accounting for a significant portion of Iran's cryptocurrency transactions. The Reuters investigation pointed out that this exchange plays a crucial role in the Iranian economy and functions as a gateway connecting to the global cryptocurrency market.

In particular, blockchain analysis revealed that fund flows linked to sanctioned entities such as the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC) were detected through Nobitex. Some analyses estimated that transactions worth hundreds of millions of dollars were involved.

In response, Nobitex reportedly denied any direct connection with the government, asserting that if any illegal activities occurred, they might have happened without their knowledge.

These investigation results once again highlight that cryptocurrencies can be used as a financial workaround in sanctioned countries, increasing the possibility of enhanced scrutiny by global regulatory authorities.

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