Iran’s crypto market struggles months after Nobitex breach and regional tensions
The post Iran’s crypto market struggles months after Nobitex breach and regional tensions appeared on BitcoinEthereumNews.com. The local Iranian crypto market is under pressure as recent regional conflicts and security breaches weigh on investor sentiment and overall activity. Summary Between January and July 2025, Iranian crypto flows fell to $3.7 billion, down 11% from 2024. The June Nobitex hack disrupted liquidity and shook investor confidence. Outbound crypto transactions remained steady, showing the continued use of crypto in sanctions evasion. A recent TRM Labs report shows that between January and July 2025, total cryptocurrency flows involving Iranian entities fell to $3.7 billion, down 11% compared with the same period in 2024. The steepest drops occurred after April, with June inflows falling more than 50% year-over-year and July volumes collapsing by over 76%. This downturn has been largely driven by geopolitical instability and operational disruptions, with the 12-day conflict with Israel in June significantly affecting market activity. At the same time, investor confidence has been weakening. Nobitex hack rattles Iran’s crypto market The June 18 cyberattack on Nobitex, Iran’s largest crypto exchange, carried out by pro-Israel hacker group Predatroy Sparrow during the conflict, shook local market participants. With over $90 million in losses, the breach severely impacted liquidity for both retail and institutional users, slowing transaction processing. Traders also questioned the security and reliability of domestic exchanges, pushing many to seek alternative platforms. Compounding the disruption was Tether’s largest-ever freeze of Iranian-linked wallets in July, which removed a large portion of stablecoin liquidity. This forced traders to pivot quickly, with many shuffling and converting their holdings to maintain access to liquid stablecoins and continue cross-border transactions. Despite these, TRM Labs reported that Nobitex still remains the dominant exchange, handling over 87% of all Iranian-linked crypto transaction volume, particularly outbound flows. Iran crypto outflows persist amid declining inflows While inflows have fallen sharply, outbound crypto volumes have remained relatively…
The post Iran’s crypto market struggles months after Nobitex breach and regional tensions appeared on BitcoinEthereumNews.com.
The local Iranian crypto market is under pressure as recent regional conflicts and security breaches weigh on investor sentiment and overall activity. Summary Between January and July 2025, Iranian crypto flows fell to $3.7 billion, down 11% from 2024. The June Nobitex hack disrupted liquidity and shook investor confidence. Outbound crypto transactions remained steady, showing the continued use of crypto in sanctions evasion. A recent TRM Labs report shows that between January and July 2025, total cryptocurrency flows involving Iranian entities fell to $3.7 billion, down 11% compared with the same period in 2024. The steepest drops occurred after April, with June inflows falling more than 50% year-over-year and July volumes collapsing by over 76%. This downturn has been largely driven by geopolitical instability and operational disruptions, with the 12-day conflict with Israel in June significantly affecting market activity. At the same time, investor confidence has been weakening. Nobitex hack rattles Iran’s crypto market The June 18 cyberattack on Nobitex, Iran’s largest crypto exchange, carried out by pro-Israel hacker group Predatroy Sparrow during the conflict, shook local market participants. With over $90 million in losses, the breach severely impacted liquidity for both retail and institutional users, slowing transaction processing. Traders also questioned the security and reliability of domestic exchanges, pushing many to seek alternative platforms. Compounding the disruption was Tether’s largest-ever freeze of Iranian-linked wallets in July, which removed a large portion of stablecoin liquidity. This forced traders to pivot quickly, with many shuffling and converting their holdings to maintain access to liquid stablecoins and continue cross-border transactions. Despite these, TRM Labs reported that Nobitex still remains the dominant exchange, handling over 87% of all Iranian-linked crypto transaction volume, particularly outbound flows. Iran crypto outflows persist amid declining inflows While inflows have fallen sharply, outbound crypto volumes have remained relatively…
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