Analysis: Iran's largest cryptocurrency exchange Nobitex has not experienced ongoing bank runs; fund movements may be due to internal transfers.

2026-03-04 12:16:56

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Mars Finance News, March 4 — According to Cointelegraph, independent analyses by TRM Labs and Chainalysis show that after the U.S.-Israel strike against Iran, Iran’s largest cryptocurrency exchange Nobitex did not experience sustained, user-driven mass withdrawals. Although on-chain data indicates that major Iranian exchanges saw brief surges in activity and increased fund outflows across a broader scope. The report reviewed Nobitex’s on-chain activity since the U.S.-Israel strike on Iran on February 28. The results show that shortly after the strike, the platform’s activity significantly increased, including transactions transferring over $35 million from hot wallets to cold wallets. However, TRM stated that these transfers are likely internal fund management operations of the exchange rather than panic withdrawals by users.

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