Analysis: Iran's largest crypto exchange Nobitex has not experienced sustained runs; fund movements may be internal transfers

BlockBeats reports that on March 4, according to Cointelegraph, independent analyses by TRM Labs and Chainalysis show that after the U.S. and Israel launched strikes against Iran, Iran's largest crypto exchange Nobitex did not experience sustained, user-driven runs. Although on-chain data indicates that major Iranian exchanges saw brief surges in activity and increased fund outflows across a broader scope. The report reviewed Nobitex's on-chain activity since the strikes began on February 28. The findings show that shortly after the strikes, the platform's activity increased significantly, including transactions transferring over $35 million from hot wallets to cold wallets. However, TRM stated that these transfers are most likely internal fund management operations rather than panic withdrawals by users.