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According to a Reuters investigation, Nobitex—the largest cryptocurrency exchange in Iran—was founded by members of the Kharrazi family, who maintain close ties to Iran’s highest leadership. The investigation found that the exchange was established by brothers Ali and Mohammad Kharrazi, who previously used the surname “Aghamir” to conceal their connection to the Kharrazi family—a family long embedded in Iran’s political inner circle, including historical links to Ayatollah Ali Khamenei and his successors. The report states that Nobitex currently serves over 11 million users and dominates Iran’s cryptocurrency market. It continued operating during Iran’s conflicts with the United States and Israel—even amid nationwide internet blackouts—and processed transactions throughout. Analysts estimate its trading volume exceeded $100 million during wartime, accompanied by substantial outflows of funds overseas. Additionally, multiple on-chain analytics firms have identified that the platform processed transactions linked to sanctioned entities, with estimated volumes ranging from $22 million to $366 million. Data also shows that wallets associated with the Central Bank of Iran transferred hundreds of millions of dollars’ worth of cryptocurrency assets to Nobitex in 2025—widely believed to be an effort to circumvent financial sanctions. Nobitex has denied any government affiliation and stated that illicit transactions constitute only a small fraction of its overall business.
Nobitex, Iran's largest cryptocurrency exchange, was founded by members of the Kharrazi family, who have close ties to Iran's supreme leadership. Investigations show the exchange was created by brothers Ali and Mohammad Kharrazi, who previously used the surname "Aghamir" to conceal their connection to the Kharrazi family. This family has long-standing, deep ties to Iran's political core, including historical links to Ali Khamenei and his successors.The report indicates that Nobitex currently serves over 11 million users, dominates the Iranian crypto market, and has continued operating throughout conflicts between Iran, the United States, and Israel, even processing transactions during nationwide internet blackouts. Analysts say its trading volume exceeded $100 million during wartime, with significant funds flowing overseas.Additionally, multiple on-chain analytics firms point out that the platform has processed transactions linked to sanctioned entities, with estimated volumes ranging from $22 million to $366 million. Other data shows that wallets associated with the Central Bank of Iran transferred hundreds of millions of dollars worth of crypto assets to Nobitex in 2025, allegedly to circumvent financial sanctions. Nobitex denies any connection to the government, stating that illegal transactions represent only a small fraction of its overall business. (Cointelegraph)
Odaily News: The U.S. Department of Justice disclosed that Carmine Agnello, the grandson of gangster John Gotti, was sentenced to 15 months in prison for fraudulently obtaining approximately $1.1 million in COVID-19 relief funds and investing part of the money into cryptocurrency businesses.Prosecutors stated that between April 2020 and November 2021, Agnello obtained multiple relief loans from the U.S. Small Business Administration (SBA) through false applications, claiming they were for the operation of his auto parts and recycling business. In reality, he diverted the funds for personal use, with about $420,000 invested in cryptocurrency-related investments.The U.S. Attorney's Office for the Eastern District of New York said this conduct occurred during the peak of the pandemic and constituted a serious misuse of government aid funds. Agnello is expected to begin serving his prison sentence on July 1.Furthermore, official data shows that fraud related to U.S. pandemic relief funds is severe. The U.S. Government Accountability Office (GAO) estimates that approximately $135 billion (about 15% of the total) flowed into fraudulent activities. (CoinDesk)