Nobitex Withdrawals Skyrocket After US-Israeli Strikes

Recent events have led to a significant spike in withdrawals from Nobitex, an Iranian cryptocurrency exchange.

According to Elliptic's analysis of on-chain flows, outgoing transactions from Nobitex surged roughly 700% within minutes of the first US-Israeli strikes on Tehran. This phenomenon is not uncommon during geopolitical shocks, but its magnitude has raised concerns about platform risk for Iranian users and markets.

The sudden increase in withdrawals can lead to a rush to self-custody or offshore venues to mitigate platform risk, potentially exacerbating slippage and widening spreads on domestic order books.