BlockBeats News, March 4 — According to Cointelegraph, independent analyses by TRM Labs and Chainalysis show that after the US and Israel launched strikes against Iran, Iran’s largest crypto exchange Nobitex did not experience sustained, user-driven sell-offs. Although on-chain data indicates that major Iranian exchanges saw brief surges in activity and increased fund outflows across a broader scope.
The report examined Nobitex’s on-chain activity since the strikes began on February 28. The results show that shortly after the attack, 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 within the exchange, rather than panic withdrawals by users.
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After the US and Israel launched an attack, the outflow of assets from Iran’s largest cryptocurrency exchange Nobitex surged, skyrocketing by about 700% within just a few minutes. Chainalysis’s report also confirmed that within hours after the attack, the hourly trading volume of crypto assets within Iran rapidly increased.
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