Overview
- Elliptic reports withdrawals from Nobitex spiked within minutes of the U.S.-Israeli airstrikes, marking the latest and largest surge in early 2026.
- Initial on-chain paths show funds moving to overseas trading platforms that have historically received substantial Iranian inflows.
- Elliptic cites Nobitex’s scale—over 11 million users and $7.2 billion in 2025 transactions—as a key conduit for converting rials to crypto and exiting domestic rails.
- Crypto.news cites Elliptic data indicating over $500,000 left within minutes and nearly $3 million between Feb. 28 and March 1, while TRM Labs notes a 99% internet connectivity plunge and characterizes weekend activity as a downturn rather than capital flight.
- The spike echoes earlier bursts tied to Jan. 9 protests and subsequent U.S. sanctions announcements, and it coincided with brief crypto market sell-offs before partial rebounds in major tokens.