Crypto Activity in Iran Faces Major Disruptions ⚡
Iran’s cryptocurrency ecosystem has taken a major hit in 2025. According to blockchain analytics firm TRM Labs, total flows into Iranian trading platforms fell 11% from January to July, totaling $3.7 billion.
This sharp decline came amid political tensions with Israel, a $90 million hack on Nobitex, and Tether freezing 42 wallets linked to Iran.
Conflict With Israel Weighs on Crypto Transactions
The downturn was most severe in June and July, coinciding with:
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A 12-day conflict with Israel beginning June 13.
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A breakdown in nuclear negotiations.
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Widespread power outages triggered by both cyber operations and government shutdowns.
These events pushed many Iranians away from local crypto exchanges, seeking alternatives abroad.
Nobitex Hack Shakes Market Confidence 🔓
Nobitex, which processes 87% of Iran’s crypto trades, was hacked on June 18 by pro-Israel group Predatory Sparrow.
The attack disrupted liquidity, slowed transaction processing, and pushed users toward riskier offshore platforms with little or no KYC requirements.
Even though Nobitex still dominates local volume, the security breach created lasting trust issues.
Tether Freezes 42 Wallets 🚫
On July 2, Tether froze 42 addresses tied to Iran — its largest ever blacklist in the country.
This action sparked a rush among Iranian users to:
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Dump USDT on TRON, Iran’s most popular stablecoin network.
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Move into alternatives like DAI on Polygon.
Despite this, stablecoins remain the backbone of Iran’s crypto usage, helping citizens hedge against rampant inflation.
Iran’s Continued Reliance on Crypto
TRM Labs highlighted that while overall flows dropped, Iran still leverages crypto for:
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Paying Chinese suppliers for drone and AI components.
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Espionage funding with foreign operatives.
However, illicit crypto activity accounts for less than 1% of total volume, showing that everyday Iranians primarily use crypto as a financial lifeline under sanctions.
Final Thoughts
Iran’s crypto story in 2025 is one of resilience under pressure. Despite hacks, blacklists, and geopolitical turmoil, demand for stablecoins proves how essential digital assets are for citizens navigating inflation and sanctions.
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