- Crypto outflows from Iran’s Nobitex exchange surged 700% within minutes of the US-Israeli airstrikes on Tehran.
- Blockchain analytics firm Elliptic links the spike to capital flight, with funds moving to foreign exchanges.
- The event highlights cryptocurrency’s role in circumventing sanctions during crises.
In the wake of coordinated US-Israeli airstrikes on Tehran that targeted key military and leadership sites, Iran’s largest cryptocurrency exchange, Nobitex, experienced a dramatic 700% surge in outflows. Blockchain analytics firm Elliptic reported that transaction volumes leaving the platform spiked almost immediately after the strikes began on Saturday, March 1, 2026.
According to Elliptic’s analysis, outflows reached over $500,000 within minutes, escalating to nearly $3 million in a single hour. The firm noted that this rapid movement likely represents capital flight from Iran, as users sought to transfer assets offshore amid escalating conflict.
“Cryptoasset outflows from Iranian exchange Nobitex surged within minutes of the first US-Israeli attack on Iran, with outgoing transaction volumes spiking by 700%,” wrote Elliptic co-founder Tom Robinson in the report. He added that initial tracing showed funds flowing to overseas exchanges with historical ties to Iranian users.
Nobitex, serving over 11 million users and handling $7.2 billion in transactions in 2025, allows conversion of Iranian rials to digital assets for withdrawal to non-custodial wallets. This facilitates movement outside traditional banking systems, which are heavily sanctioned. Chainalysis data indicates Nobitex has processed $11 billion in historical inflows, dwarfing other Iranian platforms.
The strikes, dubbed Operation Roaring Lion by Israel and Epic Fury by the US, occurred at 9:45 a.m. Tehran time, hitting nuclear facilities, missile sites, and areas near Supreme Leader Ayatollah Ali Khamenei. A widespread internet outage followed, potentially curbing further outflows.
On X, Bitcoin news account Atlas21 highlighted the surge, noting Elliptic’s attribution to capital flight. Similarly, Selcoin Global posted about the 700% jump to nearly $3 million.
This incident underscores cryptocurrency’s dual role: as a hedge against instability and a tool for evading sanctions. While it provides liquidity in crises, it raises compliance concerns for global exchanges. Elliptic advised firms to monitor for Iranian-linked transactions.
Bitcoin dipped below $64,000 post-strikes but recovered to $65,500, while Ethereum fell to $1,930. Analysts warn of volatility if conflict widens.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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