Bitcoin Magazine
As Bombs Fall on Tehran, Iran’s Crypto Lifeline Lights Up
Within minutes of the first U.S.-Israeli missiles striking Tehran on Saturday morning, a different kind of exodus was already underway.
Crypto outflows from Nobitex, Iran’s largest cryptocurrency exchange, surged 700%, according to blockchain analytics firm Elliptic. The spike was capital flight, executed in real time, by Iranians racing to move money out of a country suddenly under full-scale military bombardment.
Nobitex processed $7.2 billion in crypto transactions in 2025 and serves more than 11 million users, Elliptic said. It allows Iranians to convert rials into crypto and withdraw to external wallets which is a direct pipeline around the country’s crippled banking system and the web of international sanctions choking it.
Elliptic’s initial tracing of the weekend’s outflows shows funds flowing to overseas exchanges that have historically received significant Iranian inflows
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