Iran Bitcoin Outflows Surge After US-Israel Airstrikes, On-Chain Data Shows

Following US-Israel airstrikes on Tehran targets on February 28, 2026, which resulted in the reported death of Supreme Leader Ayatollah Ali Khamenei, on-chain data from Chainalysis indicated a significant spike in cryptocurrency activity from major Iranian exchanges. Between February 28 and March 2, approximately $10.3 million in crypto assets flowed out of these exchanges. Chainalysis identified three main drivers: individuals moving funds to self-custody wallets amid instability, exchanges cycling funds for liquidity or operational obscurity, and potential transfers by state-aligned actors for sanctions evasion or trade. The largest exchange, Nobitex, saw outflows jump 700% minutes after the strikes, with funds traced to overseas exchanges, suggesting citizens are using Bitcoin as a hedge against economic collapse and uncertainty caused by the geopolitical shock.

(Source：Bitcoin Magazine)