Iranian Crypto Exchanges Record $10 Million in Outflows As Geopolitical Tensions Rise

Following US-Israeli airstrikes on February 28, 2026, Iranian cryptocurrency exchanges experienced a significant surge in outflows, totaling approximately $10.3 million between February 28 and March 2, 2026, according to Chainalysis. This spike aligns with historical trends showing increased crypto activity during major geopolitical events in Iran, where cryptocurrency is seen as an "element of resistance." Data from Elliptic indicated that Iran's largest exchange, Nobitex, saw a 700% rise in outgoing transaction volumes. The outflows moved to overseas exchanges, domestic Iranian exchanges, and unidentified wallets. Potential reasons include retail users moving funds to self-custody wallets as a hedge, exchanges reshuffling liquidity to obscure identification and mitigate sanctions, or state-aligned actors using the activity for cross-border transactions or sanctions evasion during heightened tension.

(Source：BeInCrypto)