Overview
- Chainalysis pegs Iran-linked on-chain volume at roughly $7.78 billion for 2025, accelerating from 2024.
- During the Dec. 28–Jan. 8 protest period and nationwide internet blackout, withdrawals from local exchanges to personal Bitcoin wallets rose sharply in both count and value.
- Addresses tied to the Islamic Revolutionary Guard Corps received more than $3 billion in 2025 and over half of all value in Q4, based on sanctioned wallets tracked by OFAC and Israel’s NBCTF.
- Chronic inflation near 40–50% and a rial that has lost about 90% of its value since 2018 are pushing households toward Bitcoin for savings and stablecoins for remittances.
- Transaction surges consistently aligned with major shocks in 2024–25, including the Kerman bombings, October missile strikes, and a June 2025 conflict that featured cyberattacks on Nobitex and Bank Sepah.