Chainalysis reports that after the U.S. and Israel launched airstrikes against Iran on February 28, there was a peak in capital outflows from local Iranian crypto exchanges. Between February 28 and March 2, approximately $10.3 million worth of crypto assets were withdrawn, with peak hourly outflows approaching or exceeding $2 million, significantly higher than normal levels. Chainalysis notes that it is currently difficult to determine the specific sources of these fund movements, which may include: ordinary users transferring assets to self-custody wallets, exchanges adjusting liquidity structures under sanctions pressure, or cross-border fund transfers related to state-affiliated entities. Elliptic previously disclosed that the Central Bank of Iran has purchased approximately $507 million worth of USDT over the past year, injecting dollar liquidity into the domestic market through the country's largest exchange, Nobitex. (Decrypt)