IRANIAN FAMILY CRYPTO EXCHANGE BYPASSED US SANCTIONS

INDUSTRY DESK■ 1 MIN READ

SAT, MAY 2, 2026

■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE

An investigation reveals Nobitex, a cryptocurrency exchange founded in 2018, was established by two brothers from Iran's elite Kharrazi family using an alternative surname. The platform processed hundreds of millions in transactions that circumvented US sanctions.

Reuters' investigation identified the founders as members of the Kharrazi family, a prominent Iranian dynasty with historical ties to the country's government and business elite. The brothers created Nobitex under a different surname, obscuring the family connection. The crypto exchange enabled the movement of substantial funds beyond US sanctions restrictions. Cryptocurrency exchanges have become increasingly scrutinized by regulators for their potential role in sanctions evasion, given the pseudonymous nature of blockchain transactions and the difficulty in enforcement across borders. The findings highlight ongoing challenges for US authorities in monitoring financial flows through decentralized digital assets. Nobitex has operated as Iran's largest crypto exchange, making its sanctions-evasion activities particularly significant in scope.

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► Techmeme

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IRANIAN FAMILY CRYPTO EXCHANGE BYPASSED US SANCTIONS

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