22.06.2025 03:53

Iran's central bank has implemented a strict new trading curfew for all domestic cryptocurrency exchanges, a direct response to the devastating cyberattack on Nobitex, the nation's largest digital asset platform. This unprecedented measure, restricting trading hours to 10 AM to 8 PM daily, aims to enhance regulatory oversight and bolster security, particularly during vulnerable nighttime periods when fewer personnel are on duty.

The $100 million heist, one of the most significant financial cyberattacks in Iranian history, prompted this immediate action. The incident underscores the escalating risks faced by cryptocurrency exchanges globally and the challenges in securing vast digital assets. The new regulations are a clear attempt by Iranian authorities to mitigate future incidents and strengthen the country's digital asset framework.

The June 18th attack, attributed to the Predatory Sparrow group with alleged links to Israel, involved more than just theft. In a highly unusual development, approximately $90 million worth of cryptocurrency was not merely stolen but deliberately destroyed, showcasing a sophisticated and unprecedented level of digital asset annihilation. This destructive aspect of the attack has sparked global concern, particularly amongst cryptocurrency investors and experts. The full source code of Nobitex was also leaked during the breach, compounding the severity of the security compromise.

The incident highlights the vulnerability of even large, established cryptocurrency exchanges to sophisticated cyberattacks and the considerable financial and reputational damage such breaches can inflict. The Iranian government's swift response, while drastic, reflects the seriousness of the situation and its commitment to stabilizing its domestic cryptocurrency market. This response serves as a stark warning to other nations and cryptocurrency platforms about the potential for increasingly sophisticated and devastating cyberattacks.