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

March 2: Elliptic data shows outflows from Iran’s cryptocurrency exchange Nobitex surged 700% within minutes of the U.S.’s first-ever airstrike. Since January, similar outflows have coincided with new U.S. sanctions and nationwide internet shutdowns amid protests—reflecting how digital assets are increasingly used to bypass Iran’s banking system. Nobitex processed $7.2 billion in crypto transactions in 2025, with over 11 million users. It’s a key part of Iran’s crypto ecosystem and linked to financial activities tied to the Revolutionary Guard. In January, Elliptic also revealed Iran’s Central Bank used Nobitex to back a sharp rial devaluation. The sharp outflow spike last Saturday (March 2) may signal capital flight. Nobitex lets users convert rials to crypto and withdraw to external wallets, allowing funds to skirt some global banking system scrutiny when leaving Iran. Preliminary tracking shows recent outflows are heading to overseas crypto exchanges that have historically received large Iranian funds.