Cryptocurrencies saw a significant drop across the board on the afternoon of February 28, following breaking developments in the Middle East.

According to reports, a U.S. official stated that attack aircraft stationed at bases across the Middle East, along with aircraft carriers, are carrying out dozens of American airstrike missions. The official indicated that the scale of these strikes is expected to be much larger than the U.S. attack on Iranian nuclear facilities in June of last year.

The USS Gerald R. Ford aircraft carrier arrived in Israel on the 27th. Currently, the U.S. military has two aircraft carriers, the USS Ford and the USS Lincoln, deployed simultaneously in the Middle East region.

Approximately 30 targets within Iran have been attacked, including the Iranian Presidential Palace and the Ministry of Intelligence and National Security. Reports from Iran on the 28th indicated that Supreme Leader Ayatollah Ali Khamenei is not currently in Tehran and has reportedly been moved to a secure location.

An Israeli government official stated that Israel is preparing for the first phase of a four-day intensive and powerful joint strike operation. A U.S. official claimed the objective of the airstrikes is to dismantle Iran's security apparatus.

Alarms were activated in the Golan Heights on the 28th. Separately, Iraq's Ministry of Transportation announced the closure of the country's airspace on the same day.