Since the outbreak of the US–Israel conflict involving Iran, the country has witnessed a significant spike in cryptocurrency activity. Reports suggest that digital assets are increasingly being used to bypass sanctions imposed on Iran’s Islamic Revolutionary Guard Corps (IRGC), while also serving as a financial refuge for civilians grappling with soaring inflation.
According to blockchain analytics firm Chainalysis, more than $10 million worth of cryptocurrencies flowed out of Iranian exchange platforms between February 28 — the first day of US-Israeli airstrikes — and March 2. This marks one of the most notable short-term movements in recent months.
The firm also revealed that several digital wallets involved in these transactions are directly linked to the IRGC, raising concerns about sanctions evasion through decentralized financial systems.
In 2025, wallets associated with the IRGC received over $3 billion in cryptocurrencies, accounting for more than half of Iran’s total crypto flows — a share that continues to expand as geopolitical tensions intensify.