The Chainalysis Team stated:
“On-chain data shows a sharp increase in activity from major Iranian exchanges in the hours following the February 28, 2026 US-Israeli airstrikes, with roughly $10.3M in cryptoasset outflows between February 28 and March 2.”
The analysis indicates that hourly withdrawals accelerated within hours of the strikes, at times approaching or exceeding $2 million, a marked increase from the relatively modest and uneven activity recorded before the escalation. The report further noted that “most funds are sent to wallets that could be Iranian citizens’ personal wallets, new infrastructure for Iranian exchanges, or withdrawals by state actors.”
That pattern, where withdrawals rose before connectivity was cut and resumed after access returned, suggested that users acted preemptively when risks intensified.
FAQ 🧭 Why did crypto outflows from Iranian exchanges surge? Investors and other actors moved funds rapidly following US-Israeli airstrikes, reflecting heightened geopolitical risk. How much crypto left major Iranian exchanges? Roughly $10.3 million in cryptoasset outflows were recorded within days of the military escalation. Are these withdrawals mainly retail investors? Chainalysis said flows could include retail users, exchange liquidity shifts, or potential state-linked transfers. What does this mean for bitcoin demand in crisis regions? Past unrest shows users often move into bitcoin as a hedge against instability and currency pressure.
