TRM Labs and Chainalysis report that Nobitex, Iran’s largest crypto exchange, experienced a temporary surge in on-chain activity but no sustained user withdrawals after the U.S.-Israel strikes, with a $35M+ hot-to-cold transfer likely attributed to internal fund management.
TRM Labs and Chainalysis report that Nobitex, an Iran-based crypto exchange, saw no prolonged user-led withdrawal run following the U.S.-Israel strikes. A brief rise in on-chain activity was observed, but the more than $35 million hot-to-cold transfer since Feb. 28 was likely internal funds management rather than panic withdrawals.