19.06.2025 13:46
Following a devastating cyberattack on Nobitex, Iran's largest cryptocurrency exchange, the Iranian Ministry of Industry and the Central Bank implemented a nationwide nighttime ban on cryptocurrency trading. This drastic measure followed the theft of over $90 million in digital assets, highlighting significant vulnerabilities within Iran's cryptocurrency infrastructure and sending shockwaves through regional markets.
The attack, launched on June 18th, compromised Nobitex's hot wallets across various networks including Bitcoin, Ethereum, Dogecoin, and Solana. Unlike typical exchange hacks driven by financial gain, this incident involved the deliberate destruction of the stolen funds. Hackers redirected the cryptocurrency to "burner" addresses displaying anti-Iranian messages, effectively rendering the stolen assets irretrievable. This act of cyber sabotage, rather than a simple robbery, points to a politically motivated attack.
Responsibility for the attack was claimed by Gonjeshke Darande ("Predatory Sparrow"), a pro-Israel hacking collective with a history of targeting Iranian systems. Their statement on X accused Nobitex of facilitating sanctions evasion and funding terrorism, further escalating the situation. The group also threatened to release Nobitex's source code, jeopardizing the remaining user funds and the platform's security. Security experts point to compromised employee credentials and inadequate access controls, aided by infostealer malware such as StealC and Redline, as the key factors enabling the breach.
Blockchain forensic analysis by firms like SlowMist and Elliptic confirmed the irreversible loss of over $80 million in cryptocurrency. The attack dramatically depleted Nobitex's assets; within 48 hours, the value plummeted from $1.8 billion to a mere $96 million. This significant loss, coupled with the threat of further data exposure, prompted the government's immediate response in the form of the nighttime trading ban, a move designed to mitigate further damage and potential instability. The incident underscores the escalating risks associated with cryptocurrency exchanges in volatile geopolitical environments and highlights the need for enhanced security protocols.
