The crypto outflows of Iran’s biggest digital asset exchange have spiked following Saturday’s US-Israel airstrikes.
Elliptic, a blockchain-based analytics platform, says that the number of transactions on Nobitex (the top Iranian exchange) has increased by 700% since the attacks.
Elliptic co-founder Dr. Tom Robinson and Chief scientist says that the increase could be capital flight out of Iran.
Nobitex converts rials into cryptoassets that can be transferred to an external wallet. It is possible to move funds out of Iran without attracting the attention of global banks. The initial tracing suggests that funds have been sent overseas to cryptoassets exchanges which historically saw significant inflows of Iran .”
Robinson says Nobitex had more than 11,000,000 users last year and that they sent or received $7,2 billion worth of cryptoassets transactions. Since the start of 2026 the exchange has seen multiple spikes in outflows, particularly following the Iranian demonstrations and the internet blackouts.
Robinson says that other outflows surged after the US sanctions were rolled out against Iran. This indicates crypto can be used as a way to bypass international punitive actions.
The inherent transparency of blockchain is a double-edged sword. Cryptoassets can be used to circumvent banking restrictions but the same data also allows authorities and compliance professionals to track where these funds go next, often with greater precision and speed than traditional financial monitoring. These same data on the blockchain that showed these surges in outflows can also be used by authorities and compliance professionals, to track where funds are going next. This is often done with more precision and faster than conventional financial monitoring. .”
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Elliptic: Outgoing transaction volume on top Iranian crypto exchange skyrockets 700% following US/Israel airstrikes may be updated as new information becomes available.
