Nobitex
Nobitex is the private cryptocurrency exchange brand of Tehran-based Noyan Technology Solution Company. Founded in 2017, it provides rial-based digital-asset trading, custody, wallets, stablecoin markets and trading tools to more than 11 million users. It is a material indicator of Iranian crypto liquidity, while its 2025 cyber breach and Iran-linked sanctions exposure heighten counterparty risk.
Operations & footprint
Products and services
Nobitex operates a cryptocurrency exchange platform providing crypto trading, rial-based order books, digital-asset custody, wallet services, market tools, stablecoin trading, user verification, and retail access to crypto markets. Its activity is linked to alternative payment channels, foreign-exchange pressure, digital-asset liquidity, and sanctions-sensitive financial flows.
Operations and assets
The platform combines rial payment rails with crypto order books, custodial wallets, stablecoin markets and trading interfaces. Its operating stack includes cold wallets, two-factor authentication, multi-signature systems, a mobile application and developer API access.
Geographic footprint
Tehran, Iran.
Ownership & group structure
Reported scale
Scale note: Observed transaction volume was approximately USD 5 billion from 2025 to the reference period; this is not revenue.
Commercial and investment relevance
Nobitex is relevant for investors only as a market-intelligence signal for Iran's crypto liquidity, alternative money-transfer behavior, retail hedging against rial depreciation, and compliance stress in the financial system. It should not be treated as a normal fintech counterparty without enhanced review. Due diligence should prioritize sanctions screening, legal exposure, custody risk, cyber-security history, ownership verification, transaction monitoring, regulatory status, stablecoin exposure, user-fund protection, and the risk of asset freezes or service interruptions. Nobitex is a large access point to Iran’s domestic crypto market, making it relevant to liquidity analysis, payment-risk assessment and digital-asset infrastructure monitoring. Suppliers and partners face elevated technology, custody and compliance requirements.
Constraints, risk & compliance
Key risks and constraints
In June 2025, Predatory Sparrow breached Nobitex, with an estimated USD 90 million in digital assets lost. Internal source code, configuration files and system documentation were also published, creating material cybersecurity, custody and operational-resilience concerns.
Sanctions and compliance considerations
Transactions involving a Tehran-based Iranian crypto exchange present elevated sanctions and financial-crime exposure because Iran is subject to extensive US, EU and UK restrictions. Counterparties require enhanced sanctions screening and transaction monitoring.
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What is Nobitex?
Nobitex is an Iranian cryptocurrency exchange brand operated by Noyan Technology Solution Company. It provides rial-based crypto trading, wallet and custody services, stablecoin markets and trading tools.
Where is Nobitex based?
Nobitex is based in Tehran, Tehran Province, Iran.
When was Nobitex founded?
Nobitex was founded in summer 2017, and its first market version launched in winter 2017.
What are the main risks of dealing with Nobitex?
Key considerations include Iran-related sanctions and financial-crime exposure, digital-asset custody risk, and the operational consequences of the June 2025 cyber breach that resulted in an estimated USD 90 million loss of digital assets.