Iranian Bitcoin Outflows Surge Following US-Israel Airstrikes

The recent US-Israel airstrikes on Tehran have triggered a significant increase in Bitcoin outflows from Iranian exchanges, according to data compiled by Chainalysis. Between February 28 and March 2, around $10.3 million in crypto assets flowed out of exchanges, mirroring patterns observed throughout 2025.

Chainalysis' analysis highlighted that trading volumes and withdrawals typically rise during periods of domestic unrest and geopolitical shocks, reflecting the real pressures faced by ordinary citizens and state actors alike. The outflows are attributed to three plausible drivers: individual Iranians seeking self-custody amid instability, exchanges cycling funds to manage liquidity or obscure operational activity, and potential state-aligned actors using domestic platforms for cross-border trade.

Nobitex, Iran's largest cryptocurrency exchange, experienced an even more pronounced spike in outflows, with a 700 percent increase within minutes of the first strikes. This surge is likely due to citizens seeking to move capital outside the country's crumbling banking system and international sanctions framework.