Iran's Kharrazi Family Linked to Sanctions Evasion through Cryptocurrency Exchange

The Kharrazi family's involvement in Iran's cryptocurrency market has come under scrutiny following revelations about their role in founding the country's largest exchange, Nobitex.

Nobitex was established in 2018 by two brothers from the Kharrazi family, who operate under a different surname, Aghamir. The exchange quickly gained prominence as a central hub for cryptocurrency transactions in Iran, with over 11 million users and handling approximately 70% of all cryptocurrency transactions in the country.

According to investigations by Reuters, Nobitex has been linked to sanctions evasion and money laundering, with transactions worth hundreds of millions of dollars processed through the platform. The exchange's involvement with major players in the global cryptocurrency industry, including Binance, has also raised concerns about its role in circumventing US sanctions against Iran.

Former employees of Nobitex have come forward to describe the exchange's operations, which include handling government funds subject to sanctions and facilitating transactions between sanctioned entities. The company denies any direct ties to the government or providing assistance to the state, claiming that any illegal transfers were carried out without management approval or knowledge.