On February 28, 2026, U.S.-Israeli airstrikes struck key targets across Tehran, including nuclear facilities, missile sites, and the Pasteur district, where Supreme Leader Ayatollah Ali Khamenei resided. 

Hours later, reports confirmed Khamenei’s death and the deaths of other senior officials. Amid the shock, Iranians turned to bitcoin as a channel for preserving value and moving funds outside the country’s collapsing financial infrastructure.

On-chain data compiled by Chainalysis shows a sharp surge in cryptoactivity from major Iranian exchanges in the hours following the strikes. 

Between February 28 and March 2, roughly $10.3 million in crypto assets flowed out of…

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