Iranian cryptocurrency exchange Nobitex experiences a 700% surge in outflows! Following the US airstrikes, Crypto has become a "funds escape" hotspot.

Shortly after the US airstrikes against Iran, Nobitex, Iran's largest cryptocurrency exchange, experienced unusual fund flows. According to the latest data from blockchain analytics firm Elliptic , the amount of cryptocurrency transferred out of Nobitex surged by 700% within minutes of the attack, raising concerns about capital flight and sanctions evasion within Iran.

The airstrikes triggered market turmoil, and funds quickly withdrew.

Elliptic pointed out that Nobitex's on-chain outflow transactions surged almost instantly after the US and Israel launched their first military action against Iran, showing a clear anomaly.

This phenomenon of "short-term surge" in capital outflow usually indicates that investors or fund holders are highly uneasy about the political and military situation, and therefore choose to quickly transfer assets to reduce risk exposure.

According to reports, since 2025, Nobitex has accumulated $7.2 billion in cryptocurrency transactions (including inflows and outflows), and has more than 11 million users, making it one of the most influential cryptocurrency trading infrastructures in Iran.

Are cryptocurrencies becoming a conduit for capital flight?

Nobitex offers a service to exchange riyals for crypto assets, allowing users to withdraw their assets to overseas wallets or exchanges. This model enables funds to flow across borders without going through the traditional banking system, thus circumventing international financial regulation and scrutiny to some extent.

Preliminary on-chain tracking indicates that recent funds flowing out of Nobitex have been directed to several overseas cryptocurrency exchanges that have previously handled Iranian funds. Analysts believe this may reflect a trend of some funds being rapidly transferred out of the country via crypto assets amid escalating geopolitical risks.

Abnormal fluctuations under sanctions and internet blockade

In fact, Nobitex has experienced several peaks of capital outflow since January of this year. The largest of these occurred on January 9, when large-scale demonstrations broke out in Iran, followed by the authorities implementing internet censorship.

Interestingly, while outflows of funds decreased significantly during the network outage, they did not completely disappear, indicating that even though the platform website was inaccessible, some people were still able to access the crypto assets held by the exchange through other means.

In addition, two other significant waves of capital outflows occurred after the US announced a new round of sanctions against Iran. This overlap in timing has led to questions about whether crypto assets are being used as an alternative channel to circumvent sanctions.

Blockchain transparency is a double-edged sword

It is worth noting that while crypto assets offer the possibility of bypassing bank restrictions, the transparency of blockchain itself also allows these abnormal fund flows to be monitored and exposed in real time.

Because on-chain data is publicly available, regulatory agencies and compliance analysis teams can quickly grasp the flow of funds, and in some cases, even track cross-border fund flows faster than the traditional financial system.

Overall, the US airstrikes not only affected regional security but also had an immediate impact on the cryptocurrency market in Iran. Nobitex saw a 700% surge in capital outflows, indicating that under intense political pressure and sanctions, cryptocurrencies have become an important tool for some funds seeking safe haven and overseas relocation.