In 2025, Iran experienced a significant decline in crypto flows. Key factors for this reduction were political tensions, hacking incidents, and the blacklisting of stablecoins.
Overview of the Current Crypto Situation in Iran
From January to July 2025, Iran's crypto flows amounted to $3.7 billion, an 11% decrease compared to the same period last year. According to TRM Labs, the most significant decline occurred in June and July.
Impact of Hacking Incidents and Conflicts on Crypto Flows
The downturn in crypto flows coincided with a breakdown in nuclear negotiations and a conflict with Israel starting on June 13. Notably, on June 18, the Nobitex platform, which handles 87% of the country's crypto transactions, was hacked. This event disrupted liquidity and slowed transaction processing, pushing users towards alternative platforms.
Use of Cryptocurrencies as a Response to Sanctions
Despite the decline in flows, Iranians continue to utilize cryptocurrencies to store value and circumvent international sanctions. Crypto is being used to pay for goods from China, including electronic equipment and drone components, allowing Iran to effectively bypass restrictions.
The decline in crypto flows in Iran reflects broader socio-economic and political challenges faced by the country's citizens and underscores the significance of cryptocurrencies in the face of escalating sanctions and instability.
