After US Military Attack, Iran's Nobitex Crypto Exchange Sees 700% Surge in Funds Outflow

BlockBeats News, March 2nd: According to Elliptic data monitoring, the outflow from Iran's cryptocurrency exchange Nobitex surged by 700% within minutes of the US's first-ever airstrike.

Since January, similar outflows have been occurring alongside new US sanctions and nationwide internet shutdowns following protests, reflecting how digital assets are increasingly being used as a channel to circumvent the Iranian banking system.

Reportedly, Nobitex processed $7.2 billion in cryptocurrency transactions in 2025, with over 11 million users. It is a key part of Iran's cryptocurrency ecosystem and has connections to financial activities associated with the Revolutionary Guard. In January, Elliptic also revealed that the Central Bank of Iran had used Nobitex to support a significant devaluation of the rial.

The sharp increase in cryptocurrency outflows last Saturday may signify capital flight. Nobitex allows rials to be converted into cryptocurrencies and then withdrawn to any external wallet, enabling funds to bypass some scrutiny of the global banking system when leaving Iran. Preliminary tracking of the recent outflows indicates that funds are being sent to overseas cryptocurrency exchanges that have historically received substantial amounts of Iranian funds.