Iran’s top crypto exchange saw a significant spike in crypto withdrawals within minutes of the US and Israel launching strikes in Tehran on Saturday. However, a widespread internet outage curbed additional outflows.
In a post on Monday, Elliptic said crypto outflows from the Nobitex exchange surged by more than 700% to over $500,000 within minutes of the first airstrikes, with a chart showing that outflows reached nearly $3 million in a single hour later that day.
However, crypto outflows from Nobitex fell sharply after Saturday, which fellow crypto forensics platform TRM Labs attributed to the Iranian regime enforcing strict internet blackouts. Iran’s internet connectivity reportedly fell by approximately 99% shortly after the conflict unfolded, TRM noted.
The outflows occurred amid escalating conflict between the US, Israel and Iran, following strikes targeting Tehran and subsequent Iranian retaliation.
You need to login in order to Like
Leave a comment