Iranian crypto outflows jump 700% minutes after U.S.-Israeli airstrikes, Elliptic says

Blockchain analytics firm Elliptic reported that cryptocurrency outflows from Nobitex, Iran's largest exchange, jumped by 700% within minutes of coordinated U.S.-Israeli airstrikes on Tehran. This spike suggests a rapid move of funds offshore, potentially representing capital flight bypassing traditional banking systems, according to Elliptic's co-founder, Dr. Tom Robinson. The strikes, which reportedly killed Supreme Leader Ayatollah Ali Khamenei, heightened Middle East conflict fears, causing market volatility and driving up crude prices. Nobitex, which facilitates converting Iranian rials to crypto, is central to Iran's digital asset ecosystem, having processed $7.2 billion in transactions in 2025. Elliptic noted that crypto outflows have previously surged following anti-regime demonstrations and sanctions announcements, suggesting digital assets are used to hedge against a weakening rial and mitigate sanctions impact. The geopolitical tensions also caused Bitcoin and major altcoins to drop sharply initially.

(Source：CoinDesk)