Recent data has shown that crypto outflows from Nobitex significantly increased after the first U.S.–Israeli strikes on Iran.
According to the new analysis done by Elliptic, the increase happened almost immediately after the military action began. Once it started, users rushed to move their funds out of the Iran crypto exchange platform.
Source: Elliptic.co
Currently, Nobitex is the largest crypto exchange in Iran and plays a major role in the country’s crypto market. In 2025 alone, the platform processed about $7.2 billion in crypto transactions.
With more than 11 million users, it serves as a major gateway for Iranians who want to convert their local currency, the rial, into crypto tokens.
Over the past few years, Nobitex has drawn attention from many international service providers and regulators. Thus, attention came through the platform’s link to financial activities connected to the Islamic Revolutionary Guard Corps (IRGC).
Some previous findings also suggested that the Central Bank of Iran may have used the platform to acquire U.S. dollar stablecoins as the Iranian rial lost value.
The recent increase in the number of outflows appears to reflect possible capital flight. It is typical that when global tensions rise or sanctions increase, investors and citizens often look for ways to protect their wealth.
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Because Nobitex allows users to convert rials into crypto and withdraw those funds to external wallets, it offers a way to move money outside the country without relying on the traditional banking system. The spike on Saturday is not the first unusual movement this year.
Previous Nobitex Outflow Surges Linked to Protests and Sanctions
Earlier in January, something of this sort happened. It came up shortly after widespread protests broke out across Iran followed by an internet blackout imposed by authorities. During the blackout, the overall crypto outflows from Nobitex dropped sharply, likely because many users could not access the internet.
However, blockchain data showed that some outflows still continued even while the exchange’s website was inaccessible to most users. This suggests that certain parties may have maintained access to crypto holdings despite the restrictions.
The latest surge in outflows shows how quickly digital assets can react to political and military developments and how crypto is becoming deeply tied to global events.
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