Reuters reports Nobitex — founded in 2018 by brothers using the surname Aghamir and linked to the Kharrazi family — has blockchain transactions tied to sanctioned Iranian entities including the central bank and the IRGC. Investigators say Nobitex plays a role in a parallel financial system outside normal banking channels. Nobitex denies any government contracts or relationships, says it is private and independent, and claims about 11 million users and roughly 70% of Iran’s crypto transaction volume. Reports noted sharp spikes in withdrawals after U.S. and Israeli strikes on Tehran (estimates from hundreds of thousands up to nearly $3 million moved between Feb 28 and Mar 1), though analysts cautioned some flows may reflect internet blackouts and lower on-platform volume rather than pure capital flight.

Blockchain analysis and investigators tied Nobitex transactions to sanctioned entities including Iran’s central bank and the IRGC; the platform handles an estimated 70% of Iran’s crypto transactions and reported withdrawal spikes after strikes (hundreds of thousands to nearly $3M), while Nobitex denies government links and analysts note some activity may reflect internet blackouts. These facts imply elevated regulatory and operational risk (negative sentiment) and potential short-term market-moving withdrawals (moderate impact).