IRGC used country’s largest cryptocurrency exchange Nobitex to move millions: Reuters
Blockchain analysts said the exchange moved $366 million in sanctioned funds and handled 70% of Iran’s crypto transactions.
- Reuters found that Nobitex, Iran's largest cryptocurrency exchange, processed millions linked to sanctioned groups including the Islamic Revolutionary Guard Corps and the Central Bank of Iran.
- Founded by the Kharrazi brothers using the 'Aghamir' surname to obscure ties to an influential political dynasty, Nobitex transformed from a startup into a critical conduit for Iran's economy.
- Blockchain analysis firms estimate Nobitex processed between $22 million and $366 million for sanctioned entities, though this represents only 3% of the $11 billion total volume the exchange handled.
- Investigations uncovered links to Yemen's Houthis, while a 2022 Reuters report showed Binance moved $7.8 billion for Nobitex, demonstrating the exchange's role in skirting U.S. sanctions against Iran.
- Miad Maleki, a former U.S. Treasury official, stated profitable Iranian businesses inevitably fall under regime control: "You can't have a successful business in Iran without it being controlled by the regime.
24 Articles
24 Articles
IRGC's shadow empire exposed? Iran’s crypto pipeline moves millions while US scrambles for answers
Is Iran quietly bypassing sanctions through crypto? Reports say Nobitex, allegedly linked to figures close to Ali Khamenei’s circle, has become a key financial conduit for sanctioned entities and citizens alike. Blockchain analysis suggests millions of dollars moved despite Western restrictions, with advanced obfuscation tactics making transactions harder to trace. As Donald Trump admits uncertainty over Iran’s leadership, questions grow over en…
Who owns Novitex: Iran's largest crypto exchange used by IRGC to move millions
Since Nobitex was founded by the two brothers under an alternative family name, it has processed between tens and hundreds of millions of dollars in transactions linked to sanctioned groups.
One of Iran’s most powerful families founded its largest crypto exchange. It’s used by the IRGC to move millions
Two brothers from the elite Kharrazi family, using an alternative surname, started up Nobitex in 2018. The crypto exchange has become a central node in a parallel financial system that moves funds beyond U.S. sanctions – even during the current war.
Nobitex Under Scrutiny: Reuters Investigation Links Iran’s Largest Crypto Exchange to Sanctioned Entities
While millions of Iranians rely on Nobitex to safeguard their savings amid economic turmoil, a new report suggests the platform may also serve as a conduit for financial flows tied to the Central Bank and the IRGC. A new investigative report has revealed that Nobitex, Iran’s largest cryptocurrency exchange—widely used by millions of ordinary citizens seeking to preserve their savings—may also function as a key financial conduit for sanctioned en…
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