According to reports, crypto outflows spiked 700% on Nobitex, the largest Iranian crypto exchange, following a US-Israeli attack on Saturday. Nobitex reportedly processed about $7.2 billion in transactions in 2023. The surge in outflows may reflect increased uncertainty among Iranian crypto users in response to geopolitical events. Crypto users may be moving assets to other exchanges or into self-custody.

According to reports, crypto outflows spiked 700% on Nobitex, the largest Iranian crypto exchange, following a US-Israeli attack on Saturday. Nobitex reportedly processed about $7.2 billion in transactions in 2023. The surge in outflows may reflect increased uncertainty among Iranian crypto users in response to geopolitical events. Crypto users may be moving assets to other exchanges or into self-custody.