Outgoing Transaction Volume on Top Iranian Crypto Exchange Skyrockets by 700% Following US/Israel Airstrikes: Elliptic
Iran’s largest digital asset exchange, Nobitex, experienced a significant surge in crypto outflows following the US and Israel’s airstrikes on Saturday. According to Elliptic, a blockchain analytics platform, outgoing transaction volumes on Nobitex spiked by 700% immediately after the attacks.
Dr. Tom Robinson, co-founder and chief scientist at Elliptic, suggested that the increase in outflows could indicate capital flight from Iran. Nobitex allows users to convert rials to cryptoassets, which can then be withdrawn to external wallets, enabling funds to be moved out of Iran while bypassing some of the scrutiny of the global banking system. Initial investigations into the recent outflows from Nobitex indicate that the funds are being transferred to overseas cryptoasset exchanges that have traditionally received significant inflows from Iran.
Robinson highlighted that Nobitex boasts more than 11 million users and facilitated $7.2 billion in cryptoasset transactions last year. The exchange has experienced multiple outflow surges since the start of 2026, particularly following Iranian protests and an internet blackout in January. Additionally, other peaks in outflows occurred after the imposition of US sanctions against Iran, suggesting that crypto could be utilized to evade international punitive measures.
Despite the potential for cryptoassets to provide a workaround for banking restrictions, Robinson emphasized that blockchain’s transparency allows authorities and compliance professionals to trace the movement of funds with precision and speed. This capability enables a level of monitoring that surpasses traditional financial tracking methods.
As the situation unfolds, it will be crucial to monitor how these outflows impact the broader financial landscape and whether regulatory actions will be taken to address potential misuse of cryptoassets for illicit purposes.
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