Crypto Exodus Surges as Tehran Faces Strikes

A burst of withdrawals hit Iran’s leading crypto market when the US and Israel began air attacks on Tehran. Within minutes, the Nobitex platform recorded a 700‑percent jump in crypto outflows, sending more than half a million dollars abroad. In the hour that followed, the total exceeded three million dollars. Experts see this spike as a signal of money leaving the country. Many funds were routed to overseas exchanges, bypassing conventional banking oversight. However, the surge was short‑lived. A sweeping internet shutdown imposed by Iranian authorities soon followed, cutting connectivity by roughly 99 percent. After the blackout, Nobitex activity fell sharply. A rival forensic firm argued that the drop reflected a broader decline in transactions, not a deliberate flight of capital. The platform, which normally handles 87 percent of Iran’s crypto trade, saw its daily volume shrink during the crisis.The events unfolded amid a larger conflict. The US and Israel aim to dismantle Iran’s military programs, while Tehran retaliated with strikes on neighboring states. The tension has amplified uncertainty across the region. Iran’s citizens increasingly turn to crypto as a refuge from an unstable banking system and heavy sanctions. The collapse of a major private bank last year wiped out billions in deposits, affecting millions. Even crypto exchanges face risks; Nobitex was hit by an $81‑million hack earlier this year. The situation illustrates how geopolitical turmoil can accelerate digital money flows, yet also expose users to new vulnerabilities. Watching these shifts helps reveal the fragile balance between financial freedom and state control in a heavily sanctioned economy.