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Cryptocurrency Outflow from Iran Increased by 700% After US and Israel Airstrikes
The outflow of funds from Iran's largest crypto exchange Nobitex increased by 700% within minutes after the first US and Israel airstrikes on Tehran, according to analytics firm Elliptic.
According to the company, the volume of outgoing transactions sharply surged immediately after the strikes began. Funds were mainly withdrawn to overseas crypto exchanges, which had previously received significant inflows of crypto assets from Iran.
Nobitex allows trading in Iranian rials. According to Elliptic, in 2025, the exchange processed $7.2 billion in transactions, and the number of users exceeds 11 million.
Analysts also observed similar spikes in fund withdrawals earlier this year following US announcements of new sanctions and during January protests, which were followed by internet shutdowns.