Analysis: Iran's Largest Crypto Exchange Nobitex Did Not Experience Large-Scale User Run

According to independent analyses by TRM Labs and Chainalysis, following the US-Israel strikes on Iran, Iran's largest cryptocurrency exchange Nobitex did not experience sustained, user-driven run phenomena. Although on-chain data shows that major Iranian exchanges did experience a brief surge in activity and increased capital outflows on a broader scale.

The report examined Nobitex's on-chain activity since the US-Israel strikes on Iran on February 28th. The results show that shortly after the strikes, activity on the platform increased significantly, including transactions exceeding $35 million transferred from hot wallets to cold wallets. However, TRM stated that these transfers were likely part of the exchange's internal treasury management operations, rather than being caused by panic withdrawals by users. (Cointelegraph)