{
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    "date": "2026-03-03T10:30:32",
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        "rendered": "Iranian crypto outflows spike 700% after US-Israeli airstrikes"
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        "rendered": "<div data-testid=\"html-renderer-container\">\n<p>Iran\u2019s top crypto exchange saw a significant spike in crypto withdrawals within minutes of the US and Israel launching strikes in Tehran on Saturday. However, a widespread internet outage curbed additional outflows.<\/p>\n<p>In a post on Monday, Elliptic <a href=\"https:\/\/www.elliptic.co\/blog\/iranian-cryptoasset-outflows-surge-700-percent-following-attacks\" rel=\"noopener nofollow\" target=\"_blank\">said<\/a> crypto outflows from the Nobitex exchange surged by more than 700% to over $500,000 within minutes of the first airstrikes, with a chart showing that outflows reached nearly $3 million in a single hour later that day.\u00a0<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-03\/019cb112-9bb7-7af1-b1b9-c7f70efc4fd0.png\" title><figcaption><em>Crypto outflows on Nobitex from late February to March 1. Source: <\/em><a href=\"https:\/\/www.elliptic.co\/blog\/iranian-cryptoasset-outflows-surge-700-percent-following-attacks\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/www.elliptic.co\/blog\/iranian-cryptoasset-outflows-surge-700-percent-following-attacks\"><em>Elliptic<\/em><\/a><\/figcaption><\/figure>\n<p data-ct-non-breakable=\"undefined\">Elliptic said the sharp rise in outflows \u201cpotentially represents capital flight from Iran,\u201d with its initial tracing showing that many of those funds were sent to foreign crypto exchanges.<\/p>\n<p data-ct-non-breakable=\"undefined\">\u201cThis allows funds to be moved out of Iran while avoiding some of the scrutiny of the global banking system,\u201d Elliptic said.<\/p>\n<p data-ct-non-breakable=\"undefined\">However, crypto outflows from Nobitex fell sharply after Saturday, which fellow crypto forensics platform TRM Labs <a href=\"https:\/\/www.trmlabs.com\/resources\/blog\/how-irans-crypto-market-is-reacting-to-conflict\" rel=\"noopener nofollow\" target=\"_blank\">attributed<\/a> to the Iranian regime enforcing strict internet blackouts.<\/p>\n<p data-ct-non-breakable=\"undefined\">Iran\u2019s internet connectivity reportedly fell by approximately 99% shortly after the conflict unfolded, TRM noted.<\/p>\n<p data-ct-non-breakable=\"undefined\">TRM also opposed Elliptic\u2019s conclusion that capital flight is leaving Iran, stating:<\/p>\n<blockquote><p>\u201cIt appears that the country\u2019s crypto ecosystem is not showing signs of acceleration or capital flight, but instead experiencing a downturn in both transactions and volume as the regime enforces strict internet blackouts.\u201d<\/p><\/blockquote>\n<p data-ct-non-breakable=\"undefined\">The crypto outflows come as the US and Israel seek to <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-recovers-to-68k-following-reported-death-of-iranian-supreme-leader\">topple the current Iranian regime<\/a> and wipe out its nuclear and missile programs. Iran responded with airstrikes of its own on neighboring countries, creating further <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-drops-63k-us-israel-bomb-iran\">instability in the region.<\/a><\/p>\n<p><template data-ct-widget=\"buzzsprout\" data-buzzsprout-podcast-id=\"2040516\" data-buzzsprout-episode-id=\"18518100\"><\/template><\/p>\n<p>Nobitex is Iran\u2019s largest crypto exchange, handling roughly 87% of the country\u2019s crypto transaction volume. In 2025, it processed about $7.2 billion in trades for more than 11 million users.<\/p>\n<h2>Millions of Iranians impacted by recent banking collapse<\/h2>\n<p data-ct-non-breakable=\"undefined\">Iranians continue to rely on crypto to store and move funds as a solution to navigate Iran\u2019s fragile banking system and the <a href=\"https:\/\/cointelegraph.com\/news\/iran-digital-rial-cbdc-launch?utm_source=chatgpt.com\">widespread sanctions<\/a> imposed on the country.<\/p>\n<p data-ct-non-breakable=\"undefined\"><em><strong>Related: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/news\/will-bitcoin-crash-if-oil-prices-100-dollars-per-barrel\"><em><strong>Will Bitcoin crash if oil prices hit $100 per barrel?<\/strong><\/em><\/a><\/p>\n<p data-ct-non-breakable=\"undefined\">In October, one of Iran\u2019s largest private banks, Ayandeh Bank, <a href=\"https:\/\/cointelegraph.com\/news\/iranian-bank-bankruptcy-affecting-42-million-customers\">went bankrupt<\/a> after accumulating $5.1\u202fbillion in losses and nearly $3\u202fbillion in debt, impacting more than 42 million customers.<\/p>\n<p data-ct-non-breakable=\"undefined\">Iran\u2019s central bank warned last year that eight other local banks were at risk of dissolution unless they implement reforms.<\/p>\n<p data-ct-non-breakable=\"undefined\">Iranian crypto exchanges haven\u2019t been without problems either, as Nobitex suffered an<a href=\"https:\/\/cointelegraph.com\/news\/iranian-crypto-exchange-nobitex-exploited-for-73m-zachxbt?utm_source=chatgpt.com\"> $81 million hack<\/a> in June.<\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a href=\"https:\/\/magazine.cointelegraph.com\/south-korea-gets-rich-from-crypto-north-korea-gets-weapons\/\"><em><strong>South Korea gets rich from crypto\u2026 North Korea gets weapons<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p>Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph\u2019s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy <a href=\"http:\/\/cointelegraph.com\/editorial-policy\">https:\/\/cointelegraph.com\/editorial-policy<\/a><\/p>",
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