Crypto Chaos: The $90 Million Hack That Shook Iran

Dear reader, gather ’round and permit me to regale you with the tale of Nobitex, the Iranian crypto exchange that found itself at the center of a most thrilling and geopolitically charged breach. 🤯

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Nobitex breach marks new chapter in cyber risk 📚

In the wee hours of June 18, Nobitex, Iran’s largest crypto exchange, suffered a coordinated cyberattack that left the country’s digital asset landscape reeling. 💥

The incident, confirmed by Nobitex’s technical team, involved the compromise of multiple hot wallets, affecting a wide range of assets, including Bitcoin, Ethereum, and Dogecoin. 🐕

Estimates of the stolen funds vary, but TRM Labs, Chainalysis, and Elliptic each placed the losses near $90 million. 💸

Cyvers researcher Hakan Unal noted that the breach stemmed from a failure in segregating wallet credentials. 🔒

However, unlike typical crypto hacks, the Nobitex case showed a different intent. The stolen crypto was transferred to vanity addresses with politically charged labels, rendering the funds effectively “burned.” 🔥

Shortly after the incident, the pro-Israel hacker group Gonjeshke Darande claimed responsibility via a post on X. 📣

New crypto curfew reflects crisis mood 🕰️

Following the Nobitex breach, Iranian authorities moved swiftly to tighten oversight of the country’s digital asset infrastructure. 🔒

On June 19, the Central Bank of Iran imposed a curfew limiting operating hours for all domestic crypto exchanges. 🕰️

Analysts at Chainalysis noted that the curfew may also be intended to limit capital flight and increase financial surveillance during the crisis. 📊

Blockchain forensics reveal troubling patterns 🔍

Nobitex has emerged as a critical financial gateway for Iranians, with over 7 million registered users. 🌟

However, blockchain analytics firms have traced the platform’s activity to individuals and groups under U.S. sanctions. 🚫

Further blockchain analysis has linked wallets on Nobitex to groups such as Hamas and al-Qaeda-affiliated content. 🤯

Is Iran going to attack the U.S.? 🤔

As tensions between Iran and Israel escalate, prediction markets have seen a rise in activity focused on conflict-related outcomes. 📊

One of the most active markets centers on the possibility of U.S. military action against Iran before July. 🕰️

Experts chime in 💬

crypto.news spoke with Yehor Rudytsia and Oleksii Haponiuk from Hacken to explore how the Nobitex breach challenges traditional assumptions about crypto hacks. 💬

According to Rudytsia, the incident represents a monumental change in how threats to exchanges should be interpreted. 🔒

“Web3 projects, especially centralized exchanges, are no longer just targets for financial theft. They can also become instruments for politically motivated cyberattacks… 💥

And so, dear reader, the tale of Nobitex serves as a reminder that in the world of crypto, the lines between finance and politics are increasingly blurred. 🌐

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2025-06-20 20:16