Iran crypto outflows surge 700% after US-Israel strikes as capital flees offshore

In the immediate aftermath of first US-Israel military strikes on Iranian territory, crypto analytics firm Elliptic found a significant spike in digital asset withdrawals from Nobitex, Iran’s leading crypto exchange serving over 11 million users.

Blockchain intelligence company London-based said the surge in outflows last Saturday could mean capital flight. Over time, sales volumes of transactions were 700% higher than expected in minutes after the first strikes.

According to the data, Elliptic said Iranian users “transformed rials into digital assets and transferred money to external wallets beyond the reach of traditional banking oversight.”

$7 was handled by Nobitex with . The crypto transaction is a cornerstone of Iran’s digital asset infrastructure, with 2B being the first currency player in 2025. This platform has also been subject to criticism over alleged financial links with the Islamic Revolutionary Guard Corps.

In January, Elliptic reported evidence suggesting Iran’s central bank utilized the exchange to prop up the country’s weakening currency.

Funds are flowing towards foreign trading platforms that have historically absorbed large volumes from Iran, which were first tracked early in recent withdrawals.

This year, the pattern echoes previous episodes of . The earliest known spike was on January 9, with mass protests and government-imposed internet shutdown, the most prominent of which occurred during Mass demonstrations. The blackout saw withdrawals but continued at lower levels, suggesting some users retained access to their holdings even though the platform went offline.

A further two waves of similar surges were matched with new US sanctions announcements targeting Tehran, following up observations that digital assets are an alternative to financial constraints.

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