Crypto Outflows Spike 700% on Largest Iranian Exchange Following US-Israeli Attack: Elliptic

Cryptocurrency outflows from Nobitex, Iran’s largest digital asset exchange, surged by over 700% following the military strikes carried out by Israeli forces with U.S. support this past Saturday. According to data released by blockchain analytics firm Elliptic, the sudden spike indicates a massive move by Iranian investors to secure their assets amid escalating geopolitical tensions. The report highlights that daily outflows, which typically average significantly lower volumes, reached approximately $400 million in the 24 hours following the attack. Analysts suggest the exodus is driven by fears of further retaliatory strikes, potential government-imposed internet shutdowns, or the tightening of international sanctions. While a portion of the funds has been traced to private hardware wallets, a significant volume is reportedly being moved to international platforms as users seek to hedge against domestic economic instability and potential platform freezes.

Source: Crypto outflows spike 700% on largest Iranian exchange following US-Israeli attack on Saturday: Elliptic