700% Crypto Outflows: Iranian Investors Flee Exchanges After Airstrikes
Iranian crypto investors withdrew funds rapidly from domestic exchanges following airstrikes, causing a 700% surge in outflows from Nobitex.Summary
Following U.S.-Israel airstrikes, Iranian crypto users initiated a massive withdrawal wave from domestic exchanges, with Iran's largest platform, Nobitex, experiencing a 700% spike in outflows within minutes, according to Elliptic. This panic withdrawal highlights how geopolitical shocks destabilize crypto markets in sanctioned economies and demonstrates digital assets' role as a financial lifeline. Several Iranian exchanges, including Nobitex, later went offline, possibly due to government-ordered internet shutdowns or infrastructure damage. Nobitex, which has been linked to the IRGC, also halted outgoing Ethereum transactions, although TON transactions continued. The event underscores the dual nature of crypto in conflict zones: a tool for capital flight and resilience, yet vulnerable to infrastructure failures and state intervention.
(Source：BeInCrypto)