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Iranian Exchange Nobitex Sees 700% Spike in Crypto Withdrawals Following Tehran Strikes
Outgoing crypto transactions from Iran’s largest exchange, Nobitex, surged 700% within minutes of coordinated U.S.-Israeli airstrikes on Tehran over the weekend, according to blockchain analytics firm Elliptic. In a Monday blog post, Elliptic said transaction volumes leaving Nobitex spiked almost immediately after the first strikes, suggesting a rapid effort by users to move funds offshore. Initial blockchain tracing indicates that the crypto was sent to overseas exchanges that have historically received significant inflows from Iran. The activity “potentially represents capital flight from Iran that bypasses the ... (full story)
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