In the minutes following the start of the joint military operation by the US and Israel against Iran, the volume of transfers from the country's largest cryptocurrency exchange, Nobitex, surged by 700%. This was reported by Elliptic.
🚨 Iranian cryptoasset outflows surge 700% within minutes of airstrikes
— Elliptic (@elliptic) March 2, 2026
Elliptic analysis shows a 700% surge in outflows from Iranian exchange Nobitex within minutes of the first US-Israeli airstrikes.
Surges have been occurring since January, coinciding with new US sanctions… pic.twitter.com/7cczBUInXN
Experts noted that in 2025, the platform processed transactions in digital assets totaling $7.2 billion. It has a user base of 11 million accounts and is closely linked to the financial activities of the Islamic Revolutionary Guard Corps.
"The sharp spike in cryptoasset outflows on Saturday potentially indicates capital flight from Iran. Nobitex allows users to convert rials into digital currencies, which can then be withdrawn to any external wallet," said Elliptic specialists.
According to their assessment, this method allows users to evade capital controls imposed by the international banking system.
Experts also highlighted other spikes in outgoing transactions from Nobitex this year. The largest occurred on January 9, following mass protests in Iran and the subsequent internet shutdown by authorities. This suggests that a certain category of users can access the exchange even under such conditions.
Two other spikes in activity were noted after the US announced sanctions against Iranian officials. The increase in outgoing transactions suggests that cryptocurrencies may have been used to circumvent these restrictions, Elliptic experts noted.
"This activity not only demonstrates how funds can move outside traditional channels but also highlights the inherent transparency of blockchain. The same data that revealed these spikes helps authorities and regulators track further capital movements more quickly and accurately than traditional financial instruments," they emphasized.
It is worth mentioning that in January, the company discovered that the Central Bank of Iran purchased the stablecoin USDT for $507 million.