Iran’s Largest Crypto Exchange Shows No Clear Capital Flight After Strikes

Nobitex, Iran’s largest digital asset platform, has shown no evidence of sustained user-driven capital flight following US-Israeli strikes that began on Feb. 28, according to blockchain intelligence firm TRM Labs.

TRM’s onchain review identified a short-term spike in activity, including more than $35 million transferred from hot wallets to cold storage. However, the firm concluded that these movements were consistent with internal liquidity management rather than mass withdrawals. Nobitex has processed tens of billions of dollars in transaction volume since 2019, including over $5 billion since 2025 alone.

Broader Iranian Crypto Outflows Rise

Separate data from Chainalysis showed approximately $10.3 million leaving Iranian exchanges between Feb. 28 and early March. Hourly outflows briefly surged as much as 873% above the 2026 average.

Analysts suggest the transfers could reflect precautionary moves into self-custody, operational liquidity adjustments by exchanges, or cross-border transfers amid heightened geopolitical and sanctions-related pressures.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.