Right after the strikes that killed Supreme Leader Ayatollah Khamenei, millions of Iranians flooded Nobitex, the country’s largest cryptocurrency platform in a desperate attempt to protect their savings, a mass financial escape captured in real-time by blockchain analysts.

Close to 11 million accounts now exist on the main exchange, and a lot of users quickly shifted their assets into private, non-custodial wallets or sent them overseas to foreign platforms.

Analysts say the panic stemmed mostly from dread over a collapsing rial, fears that the government might lock down banks and exchanges, or, worst case, shut the whole financial system amid the growing turmoil.

On-chain data painted a vivid picture of what felt like a nationwide…